U.S. Court Allows Venezuela’s Guaido To Argue In Crystallex Case

www.oann.com | 3/21/2019 | Staff
aniki (Posted by) Level 3
(Reuters) – A U.S. judge has ruled that Venezuelan opposition leader Juan Guaido’s representatives can present arguments in a court battle with Canadian mining company Crystallex International Corp, a boost to his efforts to retain control of the country’s overseas assets.

Guaido, who heads the opposition-controlled National Assembly, invoked the constitution to assume an interim presidency in January, arguing President Nicolas Maduro’s 2018 reelection was fraudulent. He has been recognized as Venezuela’s rightful leader by most Western countries, including the United States.

Team - Control - Assets - State - Oil

His team has sought to take control of overseas assets owned by state oil company Petroleos de Venezuela, namely U.S. refiner Citgo. But Citgo is under threat from Venezuela’s creditors attempting to seize shares in the company in return for unpaid debts.

In a March 20 ruling, the U.S. Court of Appeals for the Third Circuit said Guaido’s representatives could request a stay in the dispute with Crystallex, which is going after Citgo to collect on an arbitration award in compensation for Venezuela’s expropriation of a gold mining project.

Republic - Venezuela - Motion - Judge - Thomas

“We grant the Republic of Venezuela’s motion to intervene,” Judge Thomas...
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