US court ruled in favor of PDVSA in dispute with Crystallex
Caracas.- The Federal Court of the state of Delaware, in the United States, ruled in favor of the Venezuelan state-owned oil company PDVSA in a case brought by the multinational Crystallex International Corp., which requested the payment of dividends from Citgo Petroleum Corporation , A Venezuelan subsidiary that operates in that US country.
Crystallex challenged the payment of dividends in the amount of $ 2.8 billion on the grounds that the transaction prevented the execution by that company of an arbitration award against Venezuela, according to the Venezuelan News Agency (AVN).
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Despite the lawsuit filed by Crystallex, the Delawere Federal Court ruled that PDVSA enjoys immunity from jurisdiction under the Sovereign Immunity Act of the United States, according to the press release.
This decision was made on Monday, May 1, when the US Supreme Court also ruled in favor of PDVSA in the case of Helmerich & Payne, which covered the nationalization of drills in Venezuela.
