Gold Reserve is seeking to challenge the judicial expert’s qualification regarding the CITGO auction, which presented Amber Energy’s bid as a superior proposal. They argue that this offer does not meet the mandatory requirements for… Gold Reserve Challenges Judicial Expert’s Finding in CITGO Auction, Claims Amber Energy’s Offer Breaches Court Orders
The judicial expert overseeing the CITGO auction, Robert B. Pincus, informed the Delaware Court supervising the sale of the Venezuelan refinery about his determination regarding a Superior Proposal for the acquisition of PDV Holding shares,… Amber Energy Undercuts Dalinar Energy in Controversial CITGO Auction Proceedings
The CITGO auction is progressing towards the sale hearing scheduled for September 2025, based on a proposed timeline by the court-appointed expert, Robert B. Pincus, who largely has the support of most stakeholders. However, any… CITGO Auction Moves Forward Amidst Contentious Disputes and Potential Roadblocks to Sale Proceedings
The battle for the future of CITGO Petroleum, a subsidiary of PDVSA and the seventh-largest refinery in the United States, has reached a critical phase. Federal Judge Leonard P. Stark has authorized judicial officer Robert… CITGO Auction Reopened Amid Controversial Bidding as Venezuela Faces Debt Crisis
Amid the hectic process of the CITGO auction, Horacio Medina, president of the Ad Hoc Administrative Board of PDVSA, assured that the funds from the Venezuelan refinery in the United States were not used to… CITGO Auction: Horacio Medina Accuses Interin Government of Misusing Refinery Funds for Political Gain
The sale of the refinery, which seemed imminent, is halted after the emergence of two new significant bidders that have put the judicial process in the United States in question. CITGO Auction: Gold Reserve rejected… Judicial Maneuvering Delays CITGO Auction as New Contenders Emerge in Venezuelan Asset Dispute
The judicial auction of CITGO Petroleum Corp., a U.S. subsidiary of PDV Holding Inc., is entering its final days, and a new player has caught the market by surprise. Amber Energy, an affiliate of the… Amber Energy Stirs Controversy with Last-Minute $8.82 Billion Bid for CITGO Amid Ongoing Legal Turmoil
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 recent history of CITGO, a subsidiary of PDVSA in the United States, has been characterized by legal maneuvers, political pressure, and a complex judicial process that threatens to erase one of Venezuela’s last significant… CITGO’s Downfall: Legal Maneuvering and Political Pressure Lead to Controversial Auction
Gold Reserve Ltd. expressed its objection to an unsolicited bid in the CITGO auction by an anonymous bidder, stating that it does not meet key proposal requirements, such as a minimum value and the payment… Gold Reserve Condemns Anonymous Bid in CITGO Auction for Failure to Meet Essential Requirements
Evercore Group L.L.C. expressed its disapproval of the proposal to suspend the CITGO auction, countering alternative valuations of the Venezuelan refinery and showing support for the special expert, Robert B. Pincus, while assuring that he… Evercore Defends Controversial CITGO Auction Amidst Disputed Valuations and Venezuela’s Legal Pressure
Leroy Garrett and Petroamigos continue to push for a review of the court decision that excludes them from participating in the CITGO Auction, while also requesting a suspension of any action until their appeal is… Leroy Garrett and Petroamigos Demand Justice Amid Controversial Exclusion from CITGO Auction
Gramercy Distressed Opportunity Fund LLC expressed its objections to the provisions of the court-appointed auctioneer for CITGO, claiming that they grant excessive “free of burdens” protection to the buyer, extending beyond the shares of PDV… Gramercy Challenges Excessive Buyer Protections in CITGO Auction Proceedings
Former PDVSA employees, represented by attorney Leroy Garrett, have requested the Delaware Court to intervene in the CITGO auction. This request is based on Federal Rule of Civil Procedure 24. The 23,000 victims of what… Ex-PDVSA Workers Demand Court Intervention in CITGO Auction Amid Corruption Allegations
The report from court-appointed expert Robert B. Pincus regarding the CITGO auction, submitted to the U.S. District Court for the District of Delaware, covering the period from March 1 to June 30, 2025, outlines a… CITGO Auction Report Reveals Over USD 12 Million in Controversial Expenses Amid Ongoing Legal Battles