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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Venezuela Seeks Second Look at $1.4 Billion Veil-Piercing Award

Sept. 27, 2019, 12:59 PM
  • Citgo stock could be auctioned off to satisfy judgment
  • Third Circuit accused of relaxing test to access foreign assets

Venezuela and its state-owned oil company PDVSA have asked the Third Circuit to reconsider allowing a Canadian gold mining company to seize $1.4 billion in Citgo Petroleum Corp. stock.

The U.S. Court of Appeals for the Third Circuit’s July ruling “treats foreign governments worse than private corporations,” the South American country told the court in its Sept. 26 petition for rehearing.

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