A U.S. judge has granted a Canadian company the right to go after prized U.S. assets belonging to Venezuela, in a bid to get paid on an $1.4 billion award tied to the 2008 nationalization of its gold mining operations by the now cash-strapped South American country, Reuters reported. U.S. District Judge Leonard Stark in Delaware on Thursday granted a so-called writ of attachment to Crystallex International Corp in shares of Citgo Holding, which owns a U.S.-based oil refiner controlled by state-owned Petroleos de Venezuela SA (PDVSA). Judge Stark also imposed a temporary stay on Crystallex enforcing the writ to give other parties a chance to weigh in. The judge ruled on Aug. 9 that Citgo Holding assets were subject to attachment. PDVSA said it would appeal. Other companies may also lay claims on the assets, and the writ does not mean Crystallex will take over Citgo and run its refineries.
