Judge allows Citgo seizure to pay for Venezuelan debt
Citgo seizure to satisfy Venezuelan debt to Creditor Crystallex, judge rules
MIAMI – A U.S. federal judge authorized on Thursday the seizure of Houston-based Citgo Petroleum Corp., Venezuela's state-owned PDVSA's U.S. refining subsidiary.
U.S. District Court Judge Leonard P. Stark sided with Creditor Crystallex when he ruled that seizing the assets could satisfy a Venezuelan government debt.
The Wall Street Journal reported Stark's opinion was sealed and a redacted version will be released.
The U.S. State Department ordered the late Venezuelan president Hugo Chávez's cousin Asdrúbal Chávez, who headed Citgo, to surrender his U.S. visa.
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