There's something rotten about PDVSA US Litigation Trust's legal adventures. If complaint filed by David Boies in a Florida court is to be believed, PDVSA entered into an agreement in July 2017 with Boies' law firm, tasked with suing 49 co-conspirators (Morillo, Baquero, Helsinge, Trafigura et al) in a fraud scheme said to have cost over $5 billion. The Engagement Letter, that set the conditions governing the parties' division of (possible) proceeds, remains hidden.
Further to previous post on Burford Capital and Wilmer Ruperti, the affidavit from Benjamin Patrick Ogden has some interesting details about Ruperti's web. Given that most of the information contained in it comes from a disgruntled Ruperti employee, it merits the sort scrutiny that this site regularly provides.
Readers of this site will know that Wilmer Ruperti is a topic of interest. To cut it short, Ruperti went from being a “tanker master”, to become the go-to-guy for all of PDVSA’s shipping needs. Quite a feat, assisted (as per Ruperti’s own claims) by Ali Rodriguez and Rafael Ramirez. In the process, of course, he made a fortune.
Further to sanctions imposed by the U.S. Treasury Office of Foreign Assets Control (OFAC) on Gazprombank Latin America Ventures B.V., a company formed by Boris Ivanov of GPB Global Resources B.V. and Francisco Convit and Orlando Alvarado...
Recently, oil related news about Venezuela have focused on the arrest of two Chevron employees. There were scant details about the arrested. Their names and nationalities have been misreported. Carlos Jose Algarra Villegas and Rene Adrian Vasquez Mora are accused of treason, by the chavista regime, for refusing to sign a no-bid contract -with usually highly inflated prices- for PDVSA - Chevron joint venture Petropiar. These two men stand no chance of redress for one simple reason: they're both Venezuelan nationals.