The CITGO auction has a new bid of USD 10 billion, presented by Blue Water Venture Partners LLC, but the response has been almost unanimously negative. Only the Venezuelan parties, namely Petróleos de Venezuela S.A.… Unanimous Rejection of Blue Water’s CITGO Bid Raises Questions About Its Viability and Intentions
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 Delaware District Court partially granted a motion filed by Gold Reserve and the Venezuela Parties, seeking to compel a statement from an ad hoc group of PDVSA 2020 Bondholders, which will be significant for… CITGO Auction Scandal: Court Forces 2020 PDVSA Bondholders to Justify Stance on Amber Energy’s Offer Amid Legal Maneuvering
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
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
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
A valuation report in the CITGO auction process established that the price of PDV Holding Inc. (PDVH) shares — the owner of CITGO Petroleum Corp. — is USD 18.6 billion, while criticizing the management of… CITGO Auction Exposes Flaws in Valuation Process Favoring Strategic Bidder Alternatives
The CITGO auction data should be made public, according to the parties from Venezuela—PDV Holding Inc. (PDVH) and CITGO Petroleum Corporation—which argue that information should only be kept sealed when there is a compelling justification… CITGO Auction Under Fire for Lack of Transparency as Venezuelan Stakeholders Demand Public Disclosure
In the CITGO auction process, a group of bondholders from PDVSA 2020 challenges before the Delaware Court the position of PDV Holding Inc. (PDVH) and the Bolivarian Republic of Venezuela, subsidiaries of PDVSA that accuse… CITGO Auction Controversy: PDVSA 2020 Bondholders Defend Against PDVH and Venezuela’s Allegations of Undue Influence
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 parties from Venezuela, namely the Bolivarian Republic of Venezuela, PDV Holding Inc., and CITGO Petroleum Corporation, have filed a motion with the U.S. District Court for the District of Delaware, requesting a 21-day extension… Venezuela Se Afilia a Estrategias Legales para Bloquear la Subasta de CITGO Tras Sentencia Favorable en Nueva York
The CITGO auction process is unfolding with intense battles, including the high-stakes conflict between Siemens Energy Inc. and PDV Holding Inc. The former seeks to satisfy a hefty court ruling in its favor, while the… CITGO Auction: Siemens Energy and PDV Holding Clash in High-Stakes Texas Court Battle
The CITGO auction process is underway, with one of the latest actions being the bid presented to United States District Judge Leonard P. Stark of the District of Delaware, regulating the sale, for USD 12,000,000,000… CITGO Auction: Murzuq Oil’s $12 Billion Bid by Libyan Ex-Combatant for Venezuelan Refinery