PDVSA, Citgo Sued by U.S. Glassmaker Over $500 Million Award
- Owens-Illinois seeking to collect on international arbitration
- Company is one of a group that had assets seized under Chavez
This article is for subscribers only.
Owens-Illinois Inc. sued four companies owned by Venezuela, including Petroleos de Venezuela SA and Citgo Petroleum Corp., to collect a $500 million arbitration award over the 2010 nationalization of two plants located in the South American nation.
The suit, filed in federal court in Delaware Monday, claims the companies are "alter egos, and mere instrumentalities of Venezuela itself," and should be forced to pay the award.