Court ruling against Venezuela in Crystallex case puts Citgo at risk | Ottawa Citizen

by Faiz Ahmed last modified 2019-07-29T11:48:29-04:00
"A U.S. federal appeals court on Monday rejected an appeal by Venezuela’s state-owned oil company to set aside an order allowing a Canadian gold mining company to seize shares in its U.S. refining unit, Citgo Petroleum Corp. ... The decision was also a blow to investors holding PDVSA’s 2020 bond, for which the company had pledged half of Citgo shares as collateral. Maduro’s government had remained current on that bond even as it defaulted on most other debt in order to avoid losing control of Citgo."
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