Letters Blogatory

The Blog of International Judicial Assistance | By Ted Folkman of Folkman LLC

Posts tagged “Venezuela

Case of the Day: Diaz v. Galopy Corp.

Posted on June 6, 2018

The case of the day is Diaz v. Galopy Corp. International, N.V. (N.Y. Sup. Ct. 2018). In 2014, Anibal Montenegro Diaz, a Venezuelan lawyer, sued Galopy in a Venezuelan court for unpaid legal fees. In 2015, the court found in her favor on liability, and in 2016, it awarded Diaz the fees and sent the matter to a revaluation court for assessment, i.e., an adjustment in light of the hyperinflation afflicting the Venezuelan currency, the Bolivar. In June 2016, the court awarded fees in the adjusted amount of approximately 169 million Bolivars. In August 2016, the court adjusted the amount to more than one billion Bolivars. Diaz then sued in New York seeking recognition and enforcement. There was no real question about recognition. The…

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Case to Watch: Helmerich & Payne International v. Venezuela

Posted on November 1, 2016

This week, the Supreme Court will hear arguments in Helmerich & Payne International v. Venezuela. I wrote about the case back in May 2015. Here was my description of the facts: Helmerich & Payne, an Oklahoma oil company, operated in Venezuela through subsidiaries incorporated under Venezuelan law. Beginning in 2007, its subsidiary made contracts with the Venezuelan state oil company, PDVSA, for the use of the subsidiary’s drilling rigs. But PDVSA quickly fell behind on payments under the contract. PDVSA did, however, promise that payments would be forthcoming, and H&P’s subsidiary completed the work under the contract. The subsidiary then prepared its equipment to be removed from the country, but the Venezuelan government then sent its national guard to prevent removal of the equipment…

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