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ConocoPhillips Squeeze: Trinidad Court Reportedly OKs $1.3B Claim Against Venezuela
ConocoPhillips (NYSE:COP) has reportedly been granted the right by a Trinidad and Tobago court to enforce a $1.33 billion claim against Venezuela for past expropriations.
In particular, the decision gives the company the right to seize any compensation to Venezuela from joint gas projects with Trinidad, reported Reuters.
High Court Judge Frank Seepersad told Reuters, “The order gives to the claimant a green light to be able to enforce the judgment in Trinidad if they can establish there are assets held by the defendants or there is money which is owed to the defendant by entities in Trinidad and Tobago.”
Notably, ConocoPhillips has been aiming to ...