• Linkedin
  • Twitter
  • Rss

Oil, Gas & Energy Law

Skip navigation

Oil, Gas & Energy Law

Global Energy Law & Regulation Portal

Join OGELFORUM

Oil, Gas & Energy Law

Global Energy Law & Regulation Portal

  • Sign in
  • Subscribe
  • Home
  • Sign in
  • About About
    1. Home
    2. About
    3. About OGEL
    4. About OGEL
    5. Founding Editor T.W. Wälde
    6. T.W. Wälde
    7. Editorial team
    8. Editorial team
    9. Contributing Authors
    10. Contributing Authors
    11. Subscriptions
    12. Subscriptions
  • Journal Journal
    1. Home
    2. Journal
    3. Browse Issues
    4. Browse
    5. Articles by Category
    6. By Category
    7. Articles by Author
    8. By Author
    9. Advance publication
    10. Advance publication
    11. Specials
    12. Specials
    13. Search
    14. Search
    15. Book reviews
    16. Reviews
  • Legal & Regulatory docs. L & R docs
    1. Home
    2. Legal & Regulatory docs.
    3. L&R by Country
    4. L&R by Country
    5. L&R by Category
    6. L&R by Category
    7. L&R recent additions
    8. L&R recent additions
    9. Search
    10. Search
  • OGELFORUM OGELFORUM
    1. Home
    2. OGELFORUM
    3. About OGELFORUM
    4. About OGELFORUM
    5. Browse archive
    6. Browse by date / topic
    7. Search
    8. Search
    9. Join
    10. Join
  • News & Events Events
    1. Home
    2. News & Events
    3. News
    4. News
    5. Events
    6. Events
  • OGEL Studies OGEL Studies
    1. Home
    2. OGEL Studies
    3. About OGEL Studies
    4. About OGEL Studies
  • Subscribe
Home > Legal & Regulatory docs.

OI European Group BV v Bolivarian Republic of Venezuela - Petroleos De Venezuela SA - United States Court of Appeals for the Third Circuit Nos. 23-1647, 23-1648, 23-1649, 23-1650, 23-1651, 23-1652, 23-1781 - Opinion of the Court - 7 July 2023

  • Sign in to download document
Country
  • Netherlands
  • United States
  • Venezuela
Year

2023

Summary

Opinion of the Court

Sovereignty shoulders "[t]hat power . . . whose actions are not subject to the control of any other power, so as to be annulled at the pleasure of any other human will." Hugo Grotius, The Rights of War and Peace 62 (A.C. Campbell trans., M. Walter Dunne 1901) (1625).1 It is a recognition of authority long thought essential for the mutual flourishing of states and "the advantage of their affairs." Emer de Vattel, The Law of Nations 17 (Béla Kapossy & Richard Whatmore eds., 2008) (1758). Congress codified its understanding of foreign sovereignty in the Foreign Sovereign Immunities Act of 1976 ("FSIA").

In this consolidated appeal, six judgment creditors of the Bolivarian Republic of Venezuela hope to attach property held by Petróleos de Venezuela, S.A. ("PDVSA"), Venezuela's national oil company. It all arises from a long- running dispute. Four years ago, this Court wrote the most recent chapter, holding PDVSA operated as Venezuela's alter ego and allowing a judgment creditor (Crystallex International Corporation) to attach PDVSA's shares in a U.S. subsidiary. Our six creditors2 followed in those footsteps and registered their arbitration awards against Venezuela in the District of Delaware, seeking a writ of attachment against PDVSA's holdings. PDVSA resisted, arguing that changes in Venezuela's government destroyed the factual foundations supporting our prior alter-ego decision. But even accounting for those differences, the District Court correctly concluded that PDVSA remains the alter ego of Venezuela. And because reviewing PDVSA's other arguments would stretch the limited grant of our appellate jurisdiction well beyond the words written by Congress, we decline the invitation and will affirm the District Court's judgment.

The Ministry of Defense of the Republic of Venezuela; Northrop Grumman Ship Systems Inc F/K/A Ingalls Shipbuilding Inc.; ACL1 Investments Ltd.; ACL2 Investments Ltd.; Ldo (Cayman) XVIII Ltd.; Rusoro Mining Limited; Koch Minerals Sarl; Koch Nitrogen International Sarl; Gold Reserve Inc.

To download this document you need to be a subscriber

Sign in

Forgot password?

Sign in

Subscribe

Fill in the registration form and answer a few simple questions to receive a quote.

Subscribe now

Documents missing? Documents to share? Let us know!

If you know of documents which are currently missing from our Legal & Regulatory database do let us know. You can send them directly to us for inclusion in the database, anonymously or otherwise.
Learn more here

Call for contributions

OGEL Call for Papers: International Energy and Investment Law Implications of the US Inflation Reduction Act

Tade Oyewunmi, Frédéric Sourgens, Scot W. Anderson, and Almira Moronne

  • Tade Oyewunmi
  • Frédéric Sourgens
  • Scot Anderson
  • Almira Moronne

OGEL Call for Papers: Climate Litigation and the Energy Sector

Prof. Kim Talus

  • Kim Talus

OGEL Call for Papers: The Impact of the War in Ukraine on the Energy Sector

Agnieszka Ason, Konstantin Christie, Prof. Kim Talus

  • Agnieszka Ason
  • Konstantin Christie
  • Kim Talus

Call for Papers: OGEL Energy Law Journal 2023

Call for Papers: OGEL Energy Law Journal 2023

OGEL Editorial Team

  • More
  • Contribute

Advance publication

Now available in OGEL 3 (2023): Sustainable Pathways to Balancing Decarbonization in the Face of Fossil Energy Dependence, Nigeria as a Case Study

1 Sep 2023

M.P. Ezekiel, F. Dimowo

  • M.P. Ezekiel
  • F. Dimowo

Individuals and NGOs vs Corporations in the Pursuit of Climate Accountability. In the Spotlight: The Italian Oil Major ENI

1 Sep 2023

S. Nedeva

  • S. Nedeva

Advancing the Net Zero Transition: A Critical Review of the Laws on Decarbonisation of the Nigerian Gas Sector

15 Aug 2023

U.V. Obi SAN

  • U.V. Obi  SAN
  • More
  • Contribute

Stay connected

Sign up for our email alerts.

  • Issues
  • Advance publication
  • News
  • Linkedin
  • Twitter
  • RSS

Join the debate

Want to join OGELFORUM, our unique platform for oil, gas and energy issues?

Simply fill in the registration form to start your trial membership.

Download the app

  1. App store
  2. Google play

The Oil, Gas & Energy Law Intelligence (OGEL, ISSN 1875-418X) Journal and OGELFORUM listserv focus on recent developments in the area of oil, gas, energy law, regulation, treaties, judicial and arbitral cases, voluntary guidelines, tax and contracting, including the oil, gas, energy geopolitics. Read our Terms & Conditions here, and our Privacy Policy here.

About OGEL

  • Terms & Conditions
  • Contribute
  • Subscriptions
  • Contact
  • Help

Other publications

  • Transnational Dispute Management (TDM)

© 2004 - 2023. Published by MARIS.

  • Home
  • Contribute
  • Subscriptions
  • Contact
  • Help