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
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 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 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 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
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 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
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, the Venezuelan Parties, namely PDVH, CITGO, PDVSA, and the Bolivarian Republic of Venezuela, objected to the final recommendation made by judicial expert Robert Pincus on July 2, 2025, which they… Venezuelan Parties Demand Rejection of “Grossly Inadequate” CITGO Auction Recommendation Amid Serious Allegations of Process Flaws and Bias
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