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
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
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
The CITGO auction continues, and in its third joint status report to the judicial expert Robert B. Pincus, Gold Reserve and the Venezuelan parties insist on the demand for evidence regarding the sale process of… CITGO Auction Under Fire as Gold Reserve and Venezuelan Parties Demand Evidence of Sales Process Misconduct
Gold Reserve challenged the updated final recommendation proposed by the court-appointed expert in the CITGO auction regarding Amber Energy’s bid for shares of PDV Holding, which owns the Venezuelan refinery. Before the U.S. District Court… CITGO Auction: Judicial Expert’s Recommendation for Amber Energy Undermined by Creditors Favoring Dalinar Energy’s Superior Proposal
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
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
The forced sale of CITGO Petroleum Corporation, the crown jewel of PDVSA abroad, has turned into a high-stakes chess game among creditors, political operatives, U.S. regulators, and investment funds. With over $19 billion in judgments… CITGO on the Brink: The Auction That Could Reshape Venezuela’s Financial Landscape
The judicial expert assigned by the Delaware Court to oversee the CITGO auction, Robert B. Pincus, recommended Red Tree Investments as the primary bidder for the purchase of PDV Holding, despite its lowball offer, which… CITGO Auction Controversy: Judicial Expert Recommends Red Tree Investments as Main Bidder Despite Low Offer, Provoking Investor Protests