Government / AN: We present a new appeal to the US Supreme Court to protect Citgo

The Government / AN said Friday that with the appeal filed on February 19 before the US Supreme Court to “reconsider” the judgment of the Court of Appeals of the Third Circuit on the Crystallex International lawsuit, it is seeking to protect The assets of Venezuelans.

On February 19, 2020, the Bolivarian Republic of Venezuela and Petróleos de Venezuela SA (PDVSA) filed an appeal (writ of certiorati) before the Supreme Court of Justice of the United States of America for the reconsideration of the judgment of the Court of Appeals of the Third Circuit on demand from Crystallex International.

With this resource, the Legitimate Government demonstrates once again to Venezuelans, their firm conviction of not resting in the fight - in all instances that are necessary - with a robust legal strategy and highly recognized professionals to protect the assets of the people Venezuelan, in this case CITGO.

It is appropriate to remember that the risk of losing this fundamental asset began on April 4, 2016, when the International Center for Settlement of Investment Disputes (ICSID) of the World Bank, issued an arbitration award in favor of Crystallex International, condemning the Republic for the payment of 1,200 million dollars, due to the expropriation of the assets of the Canadian mining company, ordered and executed by the regime of Hugo Chávez in 2008.

Alleging that PDVSA is the alter ego of the Republic, in 2017 Crystallex International asked the Delaware District Court for a seizure order on the shares of PDV Holding, Inc., to collect the creditor of the Republic ordered by ICSID. In 2018, the Court issued that embargo order, enforceable against CITGO Petroleum Corporation, the only asset of PDV Holding, Inc.

Shortly after this decision, the "regime" of Nicolás Maduro - acting against the interests of Venezuelans - signed an illegitimate and fraudulent agreement with Crystallex International in which he recognized the obligation to pay the debt to the company, without counting on the authorization of the National Assembly and advanced a payment of about 400 million dollars.

This injury to the Venezuelan people, the product of the irresponsible policies of the “regime” of Maduro, was paralyzed on March 1, 2019 when it was agreed to suspend the execution of the seizure of the shares of PDV Holding Inc., thanks to the recognition of the world - in general - and of the United States - in particular - of Juan Guaidó as the Legitimate President of the Bolivarian Republic of Venezuela.

Immediately, the Legitimate Government introduced new allegations through the appeal of the decision of the Delaware District Court.

However, in July 2019, the Court of Appeals confirmed the decision taken by the Delaware District Court, putting the main asset of Venezuelans abroad at risk.

This measure was not implemented because on November 21, 2019, the Office of Foreign Assets Control of the United States of America (OFAC), clarified that no creditor, including Crystallex International, can seize PDVSA assets, ratifying the protection of PDV Holding and therefore, of CITGO Petroleum Corporation.

On December 13, 2019, the Delaware State District Court agreed to suspend the execution of the seizure of the shares of PDV Holding Inc., until the United States Supreme Court reviewed the decision of the Court of Appeals.

For this reason and at the request of the Legitimate Government, the renowned lawyer Donald Verilli Jr., of the law firm Munger, Tolles and Olson LLP, on behalf of the Bolivarian Republic of Venezuela, filed an appeal before the Supreme Court of Justice of the States United of America for the revision of the decision of the Court of Appeals of the Third Circuit.

Once again we want to affirm to the people of Venezuela that thanks to the efficient management of the Legitimate Government, we now have new tools and possibilities to defend the heritage of the Republic, key to the attention of the complex humanitarian emergency facing Venezuela and the reconstruction of the Country come the time.

Today, more than ever, we are committed to serving diligently, transparently and effectively until we overcome the risks to which the regime of Hugo Chávez and later Nicolás Maduro exposed CITGO and all the assets of Venezuelans.

Press release