Crystallex International Corporation v Venezuela - United States District Court District of Delaware Case No 17-mc-151-LPS Chief Judge Leonard P Stark - Opinion - 2 March 2022
Country
Year
2022
Summary
Much has happened in this long-running litigation.
Much more remains to be done.
As the Third Circuit expressly stated just weeks ago, "the District Court's judicial role in this civil action is far from over." Crysta/lex Int '! Corp. v. Bolivarian Republic of Venezuela, 24 F.4th 242, 255 (3d Cir. 2022) ("Crystal/ex IF').
In this Opinion, the Court addresses, and rejects, what the Bolivarian Republic of Venezuela, Petr6leos de Venezuela, S.A. ("PDVSA"), PDV Holding, Inc. ("PDVH"), and CITGO Petroleum Corporation ( collectively, the "Venezuela Parties") describe as "the fundamental problems" with the Proposed Sale Procedures Order ("Proposed Order") submitted by the Special Master. (D.I. 423 at 1) These objections have been the subject of extensive briefing (see, e.g. , D.I. 316, 317, 319, 339, 340, 341 , 343, 385, 406, 408, 418, 419,421 , 423) and nearly a full day of oral argument on November 8, 2021 (see D.I. 409) ("Tr.").