UK court freezes $12 bln in Venezuela assets-court docs
Thu Feb 7, 2008 3:42pm EST
NEW YORK, Feb 7 (Reuters) - Exxon Mobil Corp (XOM.N: Quote, Profile, Research) won a U.K. court order freezing up to $12 billion of assets belonging to Venezuela's state oil company, according to documents filed in a U.S. court.
The move comes ahead of a multibillion-dollar arbitration case over the state's nationalization of a huge oil project.
The order says Venezuela's oil firm PDVSA must not remove asssets from England or Wales up to the value of $12 billion. The company cannot dispose of, deal with or diminish the value of any of its assets up to the same value, the document said. (Reporting by Michael Erman)
http://www.reuters.com/article/governmentFilingsNews/idUSN0740751120080207
