PETRÓLEOS DE VENEZUELA, S.A. v. PDV HOLDING, INC.

C.A. No. 2023-0778-PAF.

306 A.3d 572 (2023)

PETRÓLEOS DE VENEZUELA, S.A., Plaintiff, v. PDV HOLDING, INC., Defendant.

Court of Chancery of Delaware.

Date Decided: November 28, 2023.


Attorney(s) appearing for the Case

Kenneth J. Nachbar , Susan W. Waesco , Alexandra Cumings, MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; Attorneys for Plaintiff Petróleos de Venezuela, S.A.

Samuel T. Hirzel, II , Jamie L. Brown , Aaron M. Nelson , Gillian L. Andrews , Brendan Patrick McDonnell , HEYMAN ENERIO GATTUSO & HIRZEL LLP, Wilmington, Delaware; Joseph D. Pizzurro , Kevin A. Meehan , Juan O. Perla , Aubre G. Dean , Allesandra D. Tyler , CURTIS, MALLET-PREVOST, COLT & MOSLE LLP, New York, New York; Attorneys for Defendant PDV Holding, Inc.

Rebecca L. Butcher, Jennifer L. Cree, LANDIS RATH & COBB LLP, Wilmington, Delaware; Steven F. Molo, Justin M. Ellis, Joshua D. Bloom, Mark W. Kelley, Lois S. Ahn, MOLOLAMKEN LLP, New York, New York; Attorneys for Amicus Curiae Red Tree Investments, LLC.

Marie M. Degnan, ASHBY & GEDDES, Wilmington, Delaware; Attorney for Amici Curiae ACL1 Investments Ltd., ACL2 Investments Ltd., & LDO (Cayman) XVIII Ltd.

Craig Martin, DLA PIPER LLP (US), Wilmington, Delaware; James E. Berger, DLA PIPER LLP (US), New York, New York; Attorneys for Amicus Curiae Rusoro Mining Limited.

Jody C. Baririllare, MORGAN, LEWIS & BOCKIUS LLP, Wilmington, Delaware; Jonathan M. Albano, Christopher L. Carter, MORGAN, LEWIS & BOCKIUS LLP, Boston, Massachusetts; Attorneys for Amicus Curiae OI European Group B.V.

Laura Davis Jones, Peter J. Keane, PACHULSKI STANG ZIEHL & JONES LLP, Wilmington, Delaware; Alexander A. Yanos, Apoorva Patel, ALSTON & BIRD, LLP, New York, New York; Robert Poole, ALSTON & BIRD, LLP, Atlanta, Georgia; Attorneys for Amici Curiae Northrop Grumman Ship Systems, Inc., Koch Minerals Sàrl & Koch Nitrogen International Sàrl.

Kevin J. Mangan, Matthew P. Ward, WOMBLE BOND DICKINSON (US) LLP, Wilmington, Delaware; Matthew H. Kirtland, NORTON ROSE FULBRIGHT US LP, Washington, District of Columbia; Katherine G. Connolly, NORTON ROSE FULBRIGHT US LLP, San Francisco, California; Attorneys for Amicus Curiae Gold Reserve Inc.


OPINION

This is an action to compel the issuance of a replacement stock certificate under 8 Del. C. § 168. It is part of a much larger multi-jurisdictional dispute between non-party Crystallex International Corporation ("Crystallex") and the Bolivarian Republic of Venezuela ("Venezuela"). In the...

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