Case No. VENEZUELA-EO13850-2019-364861-1

Date issued: Nov. 03 2020

You've hit a wall. Sign in if you have an account, learn more about TURBOFAC and subscription options, or purchase access to the text of the document on this page, the native .pdf file, and the associated TURBOFAC original commentary.

TURBOFAC Commentary (533 words)

Notes:

1) Compare related LICENSE No. VENEZUELA-EO13850-2021-372516-1, and the related application, from which we understand that Universal Weather (i) sought to pay invoices of PdVSA-owned Commerchamp in its capacity as an intermediary, and (ii) sought to be paid by PdVSA (all out of blocked funds).

Universal Weather provided the following background:

Universal is a privately held company based in Houston, Texas that provides flight planning and trip support services to business aviation.

Until it sold the business in March 2020, Universal coordinated refueling services for customers traveling to various countries through its UVair Fuel Program.

In Venezuela, PdVSA provided the refueling services. PdVSA’s affiliate, Commerchamp, S.A., invoiced Universal for those services. Universal, in turn, invoiced its customers for payment of the fuel, and Universal paid Commerchamp, S.A.

While Universal has provided no further refueling in Venezuela since PdVSA was...