Nov 25 Canadian miner Crystallex filed a
complaint in a U.S. court, seeking to recover $2.8 billion it says it is owed
from Venezuela's state-run oil company PDVSA and its U.S. subsidiary. Crystallex,
which filed the complaint Monday in Delaware, said PDVSA and its U.S.-based
refining unit Citgo Holding designed a refinancing deal to lower Citgo's value
and dissuade asset seizures stemming from arbitration awards. Crystallex is
also engaged in a $3.1 billion arbitration claim against Venezuela before an
international tribunal. The company is seeking compensation for the termination
of its Las Cristinas gold asset in Venezuela. More… 
Thursday, November 26, 2015
Canada's Crystallex files complaint over Venezuela Citgo debt issue
Nov 25 Canadian miner Crystallex filed a
complaint in a U.S. court, seeking to recover $2.8 billion it says it is owed
from Venezuela's state-run oil company PDVSA and its U.S. subsidiary. Crystallex,
which filed the complaint Monday in Delaware, said PDVSA and its U.S.-based
refining unit Citgo Holding designed a refinancing deal to lower Citgo's value
and dissuade asset seizures stemming from arbitration awards. Crystallex is
also engaged in a $3.1 billion arbitration claim against Venezuela before an
international tribunal. The company is seeking compensation for the termination
of its Las Cristinas gold asset in Venezuela. More… 
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