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 CARACAS, Venezuela (AP) - A British judge ruled against Exxon Mobil Corp. on Tuesday, tossing out an order to freeze $12 billion in assets belonging to Venezuela's state oil company in a case that stemmed from the nationalization of a project last year.
Judge Paul Walker noted that such freezing orders are rare and occur in cases where there is "usually compelling evidence of serious international fraud."
"In the present case there is no suggestion whatever of fraud on the part of (Petroleos de Venezuela SA) or any entity or person associated with it," Walker said in a summary of conclusions released by the court.
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