Judge OKs Venezuelan Asset Seizure In $43M Award

A D. C. federal judge said Tuesday a French plastics company can begin seizing Venezuelan assets in the U. S. , arguing the government has used “political turmoil” as a reason to stall debt payments one too many times. In an order, U. S. District Judge Rudolph Contreras granted Saint Gobain Performance Plastics’ motion to seize Venezuela’s U. S. assets, four months after the court upheld a $43 million arbitral award. Under exceptions to the Foreign Sovereign Immunities Act, a party can move to seize the assets of a foreign state located in the U. S. once the court determines that “a reasonable period of time has. . . Full Text -> Law360

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