Crystallex International Corporation v. Bolivarian Republic of Venezuela (1:17-mc-00151-LPS, Dkt. 443) (D. Del) (2022)

Date issued: Mar. 02 2022

Last substantive commentary amendment:
May. 03 2023

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TURBOFAC Commentary (125 words)

Notes:


1) This opinion, issued on March 2, 2022, addresses a number of consequential issues as they relate to the ability of courts to make rulings and issue orders involving blocked property that fall short of effecting a “transfer” of such property. The opinion also addresses key procedural issues, such as the binding nature (or lack thereof) of OFAC’s FAQs. See section 0.1 of Consolidated Comment on Crystallex International Corporation v. Bolivarian Republic of Venezuela (D. Del, 2017 - ), and Selected Documents Associated with the Litigation, for discussion of the USG's view on this and related opinions. In short, OFAC does not appear to believe that this was consistent with OFAC’s regulations when it is was issued, but OFAC is not “contesting” it.