Retrieved from GlobalMedia
PDVSA’s challenge to an order requiring it to pay $86 million to a Puerto Rican bank is “futile,” given that the lender has been granted an exemption from the U. S. sanctions that the Venezuelan state-run oil company relies on, a London appeals court ruled Monday. Justice Stephen Males refused Petroleos De Venezuela SA’s application for permission to appeal a summary judgment in November that went in favor of Banco San Juan Internacional Inc. He concluded that a hearing would only result in increased costs “for no useful purpose. Full Text -> 360Law
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