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Caracas, Tuesday March 18 , 2008  
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Exxon: Court did not rule on the relevance of freezing injunction

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US oil firm Exxon Mobil said the British court that overturned an injunction freezing USD 12 billion in assets owned by Venezuela state oil firm Pdvsa ruled on a jurisdiction matter, but did not refer to the relevance of the freezing injunction the US giant won from a London court.

"The court does not prejudge on the merits underlying the Mobil Cerro Negro lawsuit (filed by Exxon Mobil)," Alan Jeffers, the world number one oil firm's spokesperson, told Efe in connection with a British judge's ruling revoking that unfroze USD 12 billion in Pdvsa's assets outside Venezuela.

The freezing injunction was issued by the England and Wales High Court by request of Exxon Mobil.

The ruling, announced on Tuesday, "rather states that a British court should not make a decision on the freezing of global assets," said Jeffers.

The spokesman added that this decision does not affect the rulings issued by other courts.



 
 
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