During the CITGO auction process, the Federal Court of Delaware ordered the sale of shares from PDV Holding Inc., which owns CITGO Holding Inc., and in turn, CITGO Petroleum Corporation. In response to this decision,… Delaware Court Approves Sale of PDVH Shares in CITGO Auction While Venezuela Plans Appeal
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
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
The Delaware court overseeing the CITGO auction has ordered the court expert, Robert B. Pincus, to submit a new joint status report by September 26, addressing the alleged conflicts of interest mentioned in a prior… Delaware Court Forces Judicial Expert to Address Conflicts of Interest in CITGO Auction Dispute
The CITGO auction has been paused by the Delaware Court due to the Southern District of New York’s decision affirming the validity of the PDVSA 2020 Bonds. Judge Katherine Polk Failla, overseeing the case of… CITGO Auction Halted Amid Controversial Validation of PDVSA 2020 Bonds in Delaware Court
Black Lion Capital Advisors emphatically stated that neither Juan Guaidó, leading the interim government, nor Carlos Jordá, CEO of the refinery, nor Horacio Medina, president of the Ad Hoc Administrative Board of PDVSA, acted diligently… Albemarle Capital accuses Guaidó, Jordá, and Medina of negligence in preventing CITGO auction
The CITGO auction process is becoming increasingly complicated due to the ongoing battle between PDVSA and PDVH against the holders of PDVSA 2020 Bonds, whom they accuse of distorting their rights and manipulating decisions in… CITGO Auction Faces Turmoil as PDVSA Accuses 2020 Bondholders of Distorting Rights for Personal Gain
The CITGO auction process continues, with various parties involved taking actions to meet their interests. One of the parties, ConocoPhillips and its subsidiary companies, has voluntarily dismissed the lawsuit that had been filed against those… ConocoPhillips Withdraws Lawsuit Against PDVSA Creditors Amid CITGO Auction Process