Court Freezes Venezuelan Assets

By California Yankee

Venezuela is forced to consider the consequences of nationalizing assets of foreign companies.

A court in the United Kingdom issued an order preventing the sale of any assets owned by the Petroleos de Venezuela (PDVSA), the Venezuelan state-owned petroleum company. ExxonMobil won the order, which effectively freezes assets worth billions of dollars in its battle to be paid fair compensation for property seized by Hugo Chavez's Neocommunist government [read on].

Chavez should have asked his buddy Castro about what happens when you take foreign property without just compensation.

« Pope Griswold Schools The Head Of Zimbabwe's Central BankComments (0) | The Missile Defense Agreement Between The United States And PolandComments (0) »
Court Freezes Venezuelan Assets
 
Redstate Network Login:
(lost password?)


©2008 Eagle Publishing, Inc. All rights reserved. Legal, Copyright, and Terms of Service