Miner Says Fraud Law Can Make Venezuela Pay $1.4B Award

By Jack Newsham

Law360, New York (August 22, 2016, 3:39 PM ET) -- Gold mining firm Crystallex International Corp. asked a Delaware federal court Friday not to toss its suit against Venezuela’s state oil company and its U.S. subsidiaries, saying there’s no conflict between the Foreign Sovereign Immunities Act and a state anti-fraud law.

Crystallex won a $1.39 billion arbitration award from Venezuela this year after a World Bank tribunal found the country stole its stake in a massive gold mine. The Canadian mining company argues that a Delaware law against fraudulent transfers can be used to order PDVSA,...