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ADVERTISEMENT Dutch High Court Reinstates $11.7M Award Against PDVSA Law360 (July 19, 2021, 7:25 PM EDT) The Supreme Court of the Netherlands reinstated an $11.7 million award that was axed over fraud allegations and ruled that regardless of how the purchasing contract was obtained, the Petroleos de Venezuela SA subsidiary must pay for delivered goods. An International Chamber of Commerce tribunal awarded Texas-based supplier Wells Ultimate Service LLC $11.7 million after Bariven, a subsidiary of state-owned oil company PDVSA, did not pay Wells for two large motors used to drive drilling rigs. The Friday judgment, written in Dutch, was delivered by court Vice President Kees Streefkerk and reversed The Hague Court of Appeal s 2019 annulment while ordering.

United statesZuid hollandSupreme courtHague courtWells ultimate serviceInternational chamberPetroleos de venezuelaVice president kees streefkerkஒன்றுபட்டது மாநிலங்களில்உச்ச நீதிமன்றம்ஹேக் நீதிமன்றம்கிணறுகள் இறுதி சேவைசர்வதேச அறை