91ºF

Judge allows Citgo seizure to pay for Venezuelan debt

Citgo seizure to satisfy Venezuelan debt to Creditor Crystallex, judge rules

photo
(Citgo via Wikimedia Commons)

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. 


About the Author: