Pharo Gaia Fund, Ltd. v. The Bolivarian Republic of Venez.

• Decision Date: 20 April 2022
• Docket Number: 19-cv-3123 (AT)
• Parties: PHARO GAIA FUND, LTD. and PHARO MACRO FUND, LTD., Plaintiffs, v. THE BOLIVARIAN REPUBLIC OF VENEZUELA, Defendant.
• Court: U.S. District Court — Southern District of New York

PHARO GAIA FUND, LTD. and PHARO MACRO FUND, LTD., Plaintiffs, v. THE BOLIVARIAN REPUBLIC OF VENEZUELA, Defendant.

No. 19-cv-3123 (AT)

United States District Court, S.D. New York

April 20, 2022

DAMIAN WILLIAMS

United States Attorney for the

Southern District of New York

Attorney for the tailed States

DOMINIKA TARCZYNSKA

Assistant United States Attorney

MATTHEW M. McGILL

Gibson, Dunn & Crutcher LLP

Attorney for Pharo Gaia Fund, Ltd. and Pharo Macro Fund, Ltd.

STIPULATION AND PROTECTIVE ORDER

HON ANALISA TORRES, UNITED STATES DISTRICT JUDGE

WHEREAS, Plaintiffs in this action have issued a subpoena dated February 15, 2022 (the “Subpoena”), supplemented by a supporting affidavit as required by applicable regulations, see 31 C.F.R. § 1.11, seeking to obtain documents or information from the Office of Foreign Assets Control (“OFAC”) of the United States Department of the Treasury concerning assets and entities related to the above-captioned action and any related post-judgment execution proceedings; and

WHEREAS, OFAC seeks the entry of this Stipulation and Protective Order (“Protective Order”) authorizing the disclosure of documents or information responsive to Plaintiffs' Subpoena to OFAC, while protecting its personnel against any claim under the Trade Secrets Act, 18 U.S.C. § 1905, by producing documents or information responsive to the Subpoena;

NOW, THEREFORE, it is hereby agreed, by and between Plaintiffs and the United States of America on behalf of OFAC, by and through their undersigned counsel; and for good cause shown, the Court hereby ORDERS as follows:

1. OFAC and its personnel are authorized, pursuant to the terms set forth in this Protective Order, to disclose documents or information responsive to the Subpoena, irrespective of whether the disclosure of the documents and information would be prohibited in the absence of this Protective Order by the Trade Secrets Act, 18 U.S.C. § 1905.

2. All documents or information produced in response to the Subpoena and all portions thereof (collectively, “Confidential Material”) are deemed confidential, unless Plaintiffs are otherwise advised by OFAC in writing.

3. Confidential Material may be used only for the purpose of attempting to collect upon a judgment entered in this action pursuant to procedures authorized by law, and for no other purpose.

4. No person shall be permitted to have access to Confidential Material, nor shall any person be informed of the substance of the Confidential Material by any person permitted to have access thereto, except as provided in this Protective Order, as otherwise agreed upon by the parties and OFAC in writing, or by order of the Court.

5. Confidential Material shall not be disclosed or distributed to any person or entity other than the following:

a. the attorneys (including their expert witnesses, paralegals, clerical staff, or other assistants) for parties to this action or for parties to any proceeding incident to efforts to collect on a judgment in this action, but only insofar as the attorneys have a need for the Confidential Material in connection with this action or such proceeding;

b. the courts and their support personnel in this action and in any proceeding incident to efforts to collect on a judgment in this action; c. persons or entities served with writs of attachment or other legal process incident to efforts to collect on a judgment in this action or holding assets identified in the Confidential Material;

d. local or federal law enforcement personnel involved in any proceeding incident to efforts to collect on a judgment in this action;

e. any other person to whom disclosure is required in order to pursue proceedings incident to efforts to collect on a judgment in this action pursuant to procedures authorized by law; or

f. the respective client representatives of the parties.

6. To the extent that Confidential Material is disclosed to persons described in subparagraphs 5(a), (c), or (e)-(f), only those portions of the Confidential Material that are necessary for each specific proceeding incident to efforts to collect...