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Couple of rulings this week, one by the U.S. Supreme Court and another by a Delaware judge, have set the stage for the permanent loss of CITGO, the most important overseas asset Venezuela had left. The rulings side with Crystallex in its attempt to enforce a $1.4 billion judgement due to expropriation of its Venezuela assets by Hugo Chavez.

UPDATED: What PDVSA bid did Lazard Frères win to sell CITGO? Alek Boyd Mon, 09/22/2014 - 09:23

Lazard, an old investment bank from France that operates around the world, has been retained by PDVSA to sell CITGO. Lazard describes itself as "the world's leading independent financial advisory and asset management firm." A document leaked to this website provides the best-to-date insight into Lazard's relation with PDVSA on the specifics of CITGO: