US Company Sues Venezuelan Oil Execs For Soliciting Bribes

Harvest Natural Resources, a Houston-based oil and gas company, is suing executives with Petroleos de Venezuela for demanding bribes in order to approve the sale of the US company’s Venezuelan affiliate. The plaintiff makes four civil claims: conspiracy to force Harvest to engage in illegal conduct; an antitrust claim for conspiracy to act in restraint of trade; soliciting bribes in violation of the Robinson-Patman Act; and a claim under Texas anti-competitive law. After two failed attempts to sell which were tanked by the bribe demands, Harvest finally sold for considerably less than real value. The suit is for the difference. Harvest has formally dissolved. It is required by Delaware law to exist for at least three years “for the purposes of prosecuting lawsuits, liquidating, and closing its business.”