Gold Reserve Ltd V.GRZ

Court Update July 7

[agtavy]

Not being a lawyer, I don't really understand the most recent ruling consisting of 39 pages.  It appears to be some sort of appeal by Venezuela as it related to seven plaintiffs, GRZ being one of them. Rather than post the whole document, I'll just post the last paragraph:

 The District Court did not clearly err in its factual determinations and did not legally err in its application of the Bancec factors. For the second time in five years, we conclude that PDVSA is the alter ego of Venezuela, and we will affirm the District Court’s denial of sovereign immunity to PDVSA.

[agtavy]

Reposting ruling with (hopefully better formatting) The District Court did not clearly err in its factual determinations and did not legally err in its application of the Bancec factors. For the second time in five years, we conclude that PDVSA is the alter ego of Venezuela, and we will affirm the District Court’s denial of sovereign immunity to PDVSA.