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Friday, March 31, 2017

Crystallex Fears Venezuela Oil Co. Dodging $1.4B Award


Law360, Washington (March 30, 2017, 6:08 PM EDT) -- Canadian mining company Crystallex has pushed a Delaware federal judge for timely discovery in the case to enforce a newly confirmed $1.4 billion award against Venezuela's state-owned oil company for confiscating its gold mine investment, saying the company's U.S. intermediary was moving money out of reach.  Crystallex International Corp. won arbitration against Petroleos de Venezuela SA and had the award confirmed by a District of Columbia federal judge Saturday; Delaware proceedings against U.S. subsidiary PDV Holding Inc. had been stayed pending its outcome. More…

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