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The District Court of Delaware dismissed a lawsuit today filed by the Banco Central de Venezuela (BCV) against DolarToday.com, a Miami-based website that publishes black market exchange rates. The BCV filed the suit in October, claiming that the website’s owners were profiting from what the Central Bank argued was its undue influence in the country’s currency exchange schemes and inflation rate.

A source linked to DolarToday.com told El Nacional that the reason the court dismissed the suit is because it deemed itself to have no jurisdiction over the matter. Along with the dismissal, the court gave the BCV seven days to try to re-frame the lawsuit in a way that might give the court jurisdiction over the dispute.

Judge Gregory M. Sleet explained the reason for the suit’s dismissal, saying:

The inflation rate of a country’s economy is not a particularly sufficient harm for the Central Bank. In order to argue harm, it should be concrete in terms of quality and time. Here, inflation is not sufficiently identified as a harm; rather, it’s a hypothesis.

Adam Fox, an attorney from the Squire Patton Boggs law firm which is representing the BCV in the case, said that the case was “still alive”, hinting that they would take up the court on its offer to re-submit an amended suit within seven days.

The court’s dismissal of the lawsuit can be found here.

Flores’ Trial Pushed Back to March 29

The start of the trial of Cilia Flores’ nephews, Efrain and Franqui Flores, has been pushed back to March 29 after judge Paul Crotty granted a defense request for more time to examine the evidence. The trial was originally scheduled to start on February 29.

The two men were arrested by DEA agents in Haiti in November of last year for allegedly planning to smuggle 800 kilograms of cocaine into the United States.

Polar Cries Foul Over Union Action at Plant

Polar, the country’s largest food producer, is crying foul over a strike at its Los Cortijos plant in Los Cortijos, Caracas. According to the company, the plant’s workers are refusing to work for no good reason, which has brought the plant’s beer and malta production to a stand still.

Sibeya Gartner, the manager for labour law at the company, said:

To paralyze operations illegally in order to attempt to restrict the will of 41 co-workers who have been promoted by the company to fill vacancies in the plant is not a justification and makes no sense. There is no excuse to affect production.

The company has been hit by a wave of job actions across its facilities recently which it considers to be illegal. The company claims that the job actions have impeded the production of 1.2 million boxes of alcoholic and non-alcoholic beverages.


Questions/Comments? E-mail me: invenezuelablog@gmail.com

 

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