US Supreme Court won’t review Venezuela suit

Jan 27, 2012, 1:53 AM

AP Legal Affairs Writer

COLUMBUS, Ohio (AP) – An Ohio investment group’s lawsuit seeking to collect $100 million on three-decade-old Venezuelan promissory notes is headed back to a federal judge for further deliberations.

The decision by the U.S. Supreme Court not to hear the case was a setback for Venezuela, which argued that federal law protects it from U.S. lawsuits because it is a foreign state.

The high court declined on Monday to accept Venezuela’s appeal of a 2010 federal appeals court decision that said the suit filed by Skye Ventures of Columbus could go forward in the U.S.

The 6th U.S. Circuit Court of Appeals also said a lower court must determine whether the case should be tried in Venezuela, which will be the next step.

Skye seeks payment on the notes from a defunct government-sponsored bank.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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US Supreme Court won’t review Venezuela suit