Representatives of Venezuelan opposition leader Juan Guaido have asked a U.S. co...
FILE PHOTO - Venezuelan opposition leader Juan Guaido, who many nations have recognised as the country's rightful interim ruler, speaks during a gathering with supporters in Caracas, Venezuela April 5, 2019. REUTERS/Carlos Garcia Rawlins
Guaido heads the opposition-controlled National Assembly and in January invoked the country’s constitution to assume an interim presidency, arguing President Nicolas Maduro’s 2018 re-election was a fraud. The United States and most Western countries have recognized him as the country’s rightful leader.
That conflicts with Guaido’s efforts to preserve the country’s assets abroad, especially Citgo, which is pledged as collateral to multiple creditors. His lawyers argued to an appeals court that a lower court’s ruling in favor of Crystallex be reversed in light of the new political circumstances. Guaido named a board of directors to Citgo in February, a move he described as “protecting our assets.” Last month, the U.S. Court of Appeals for the Third Circuit ruled Guaido’s representatives could request a stay, and gave them until this week to present their arguments.
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