In a media release today, Minister of Science, Energy and Technology, Fayval Williams confirmed receipt of a letter dated June 10, 2019 from attorneys-at-law Hylton Powell.
The letter advised that the law firm acts for and on behalf of PDV Caribe, S.A. in the Claim to Compensation by PDV Caribe, S.A. This is in pursuant to the Compulsory Acquisition (Shares in Petrojam Limited) Act, 2019. PDV Caribe S.A., is a subsidiary of Petroleos de Venezuela (PDVSA).
The letter and accompanying attachments were submitted to the Attorney General’s Chambers for guidance.
Additionally, on June 6, 2019, Minister Williams received a letter dated June 1, 2019 from the Special Attorney General of the Bolivarian Republic of Venezuela, concerning the Compulsory Acquisition (Shares in Petrojam Limited) Act 2019.
Similarly, this correspondence was forwarded to the Attorney General’s Chambers for advice.
A law was passed in February to re-take the 49 per cent shares in Petrojam previously owned by PDVCaribe.
We passed a law to re take 49% shares of #Petrojam. It anticipated a claim or claims being made, so that one has been made, is not a surprise or creating any contention.The process is simply under way.That there are different V'zlan views on who can claim, is also not a surprise.— Hon. Kamina J Smith (@kaminajsmith) June 17, 2019
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