The intricacies of the CITGO auction are evident from various angles, one of which involves the U.S. Second Circuit Court of Appeals. Petróleos de Venezuela S.A. (PDVSA) and its subsidiaries have filed a motion to… CITGO Auction Exposes Legal Turmoil as PDVSA Challenges 2020 Bonds Amidst Controversial Sale
A federal judge in the United States approved a significant step in the legal battle for CITGO Petroleum, Venezuela’s most valuable foreign asset, on Tuesday, November 25. Judge Leonard P. Stark of the Delaware District… Federal Judge Greenlights Elliott’s $5.9 Billion Takeover Bid for PDV Holding in Controversial CITGO Battle
In a joint report, Rusoro Mining Ltd. and Gold Reserve Ltd. informed the Delaware Court overseeing the CITGO auction about their disagreement regarding the timing and appropriate forum for the claims presented by the latter… Rusoro Mining and Gold Reserve Clash Over Jurisdiction in CITGO Auction Dispute Amidst Legal Controversy
Through an oral order, the Delaware Court warned that the final recommendation from the court-appointed expert in the CITGO auction does not automatically reject all objections raised by the parties from Venezuela regarding specific clauses… Delaware Court Clarifies Peritos and Amber Energy’s Influence on CITGO Auction Objections from Venezuela
A New York court order has temporarily halted the issuance of the final ruling concerning the collateral agreement of shares from PDV Holding Inc., until after the New York court selects the winning bidder for… New York Court Delays Judgment on PDV Holding Collateral Until CITGO Auction Results Are Announced
The request to dismiss the judicial expert in the CITGO auction, presented to the Delaware Court by the parties from Venezuela and Gold Reserve, was not successful, as the presiding judge denied the motions requesting… Delaware Court Upholds Controversial Expert in CITGO Auction Despite Venezuela and Gold Reserve’s Attempts to Disqualify
Every day, the CITGO auction becomes more complicated, this time due to a lawsuit by Gold Reserve against Rusoro Mining Ltd to prevent it from participating in the sale, prompting the latter to ask the… CITGO Auction in Jeopardy as Gold Reserve Launches Legal Maneuver Against Rusoro Mining’s Participation in Sale Process
Venezuela is seeing an increase in lawsuits and payment judgments, including one from Siemens Energy INC., which is seeking to collect USD 200 million from PDV Holding INC., the owner of CITGO Petroleum Corporation, claiming… Siemens Pursues Over $200 Million Debt from Venezuela Amid Numerous Legal Challenges and Accusations of Fraudulent Corporate Practices
In a new twist in the complex legal saga for control of Citgo Petroleum, the most valuable U.S. refinery of Venezuela, Canadian miner Gold Reserve (GRZ.V) has launched a fresh legal offensive against its temporary… Gold Reserve Accuses Rusoro of Breaching Agreement in High-Stakes CITGO Auction Controversy
Immediate removal of the judicial expert in the CITGO auction, Robert B. Pincus, is essential, along with restarting the sale of the shares of PDV Holding Inc. This was reiterated by the parties from Venezuela… Venezuela Demands Immediate Removal of CITGO Auction Expert for Serious Conflicts of Interest and Calls for Restart of Sale Process
The anticipation surrounding the CITGO auction remains high due to recent developments. On one hand, the Venezuelan parties have filed a motion to disqualify the judicial expert, Robert B. Pincus; on the other, Gold Reserve… CITGO Auction Under Threat as OFAC Blocks PDVSA 2020 Bondholders from Interference Amid Allegations of Corruption and Mismanagement
In the latest episode of “Desde USA con Dámaso Jiménez,” we dive into the impactful documentary “PDVSA: A Story of Growth, Collapse, and Hope,” directed by renowned filmmakers Thaelman Urgelles and Mariela Roncayolo. This production… The Decline of Venezuela’s Oil Giant Under Political Corruption and the Quest for Renewal
Gold Reserve Raises Serious Allegations of Corruption in CITGO Auction The Canadian miner Gold Reserve (GRZ.V) has filed a formal complaint in a federal court in Delaware (USA) on Monday, asserting that advisors involved in… Gold Reserve Exposes $170 Million Shadow Payments in CITGO Auction Raising Serious Conflict of Interest Concerns in Delaware
In a landmark ruling that shakes the financial foundations of Nicolás Maduro’s regime, federal judge Katherine Polk Failla of the Southern District of New York (SDNY) ordered Petróleos de Venezuela S.A. (PDVSA) to pay $2.86… Judicial Blow to PDVSA: Court Mandates $2.86 Billion Payment to Bondholders
In a twist that feels like a scene from a financial espionage novel, American victims of kidnappings carried out by Colombia’s FARC are set to receive compensation with money stolen from the Venezuelan people by… Corruption Comes Full Circle as FARC Victims Stand to Gain from Chavista Loot in a Pathetic Twist of Justice