The sentence was postponed until the end of this year, a period that they hope to take advantage of to conclude with the sale of shares.
The Court of The Hague (Kingdom of the Netherlands) approved the granting of an extension until December 31 to finalize the sale of shares of a subsidiary of Petróleos de Venezuela (PDVSA), which were seized following a legal process for various litigations .
The Dutch judge Hans Vetter endorsed the request by the legal representatives of the Curaçao Refinery (RdK), Phillips Petroleum Company of Venezuela and ConocoPhillips Petrozuata NV, who had expressed their interest in postponing the private sale of the shares of Propernyn BV, a company registered in the Netherlands.
The Venezuelan state oil company made investments abroad through these companies, according to the Chronicles of the Caribbean portal.
Through Propernyn, in fact, PDVSA carried out contracts in the oil complexes of Curaçao and Bonaire.
In the first case, the Curaçao government took legal action once morest the subsidiary, once the Venezuelan state oil company ceased operations.
In this case, the damage to RdK was estimated at $45.6 million. The other two companies are subsidiaries of ConocoPhillips Company, registered in Delaware (USA).
In this case, they were affected by the expropriations decreed by the late President Hugo Chávez, which included all the assets related to two projects in the Orinoco Oil Belt.
On April 24, 2018, Conoco was favored by an arbitration ruling, which held the Venezuelan government responsible for the expropriation and ruled that PDVSA should compensate the company for 1.98 billion dollars.
A previous sentence, cited in this case, indicates that in 2018, the Venezuelan oil company paid part of the commitment with Conoco.
For 2020, the debt was calculated at 1.32 billion dollars.
On that occasion, thanks to a leak of information, they realized that the board of the state oil company had decided to close its operations in several subsidiaries abroad, such as PDV Europe, PDV Portugal and Energy and Petroleum Resources Services. Others, such as Nynas Petroleum, APS and SPA, would be assigned to the PDVSA subsidiary in Russia, which would make it difficult to compensate for the damages suffered by RdK and Conoco.
Now the situation is different. Both RdK and Conoco requested more time than that set in previous rulings for the private sale of the Propernyn securities.
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