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Journal Article
PETRÓLEOS DE VENEZUELA, S.A. V. PDV HOLDING, INC
2024
Overview
Petróleos de Venezuela, S.A. v. PDV Holding, Inc., stems from a larger dispute relating to a United States District Court for the District of Delaware's order that the stock of PDV Holding, Inc. (\"PDVH\"), a Delaware corporation, be sold to satisfy a judgment.1 Petróleos De Venezuela, S.A. (\"PDVSA\"), Venezuela's state-owned oil company, is the registered owner of all 1,000 shares of PDVH's stock as of December 1, 2000. [...]the plaintiff must prove it was the lawful owner of the stock and the stock certificate has been lost, stolen, or destroyed. [...]if both these requirements arc met and the corporation docs not show good cause not to issue the new stock certificate, then the court can require the issuance and delivery of a new certificate to the plaintiff. [...]any prior pledges made by PDVSA did not involve the PDVH stock. [...]any unknown pledge of the PDVH stock was very unlikely.
Publisher
Widener University School of Law
Subject
