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Friday, August 31, 2018

Venezuela's CITGO refineries in the US are at risk of being seized and sopld

Last week, a court ruling opened the door for Citgo assets to be seized to pay for these judgments. Defunct Canadian gold miner Crystallex had been awarded a $1.4 billion judgment over Venezuela's 2008 nationalization of a Crystallex gold mining operation in the country. A U.S. federal judge ruled that a creditor could seize Citgo's assets to enforce this award. This ruling is sure to set off a feeding frenzy among those that have won arbitration rulings against Venezuela. This is further proof that "Democratic Socialism" starts with "free Healthcare for all" and ends with the question: "Will a rabbit feed a family of four for a week?"

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