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
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
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 back-and-forth regarding the CITGO auction continues as Black Lion Capital Advisors responds to objections raised by Gold Reserve and Red Tree/Albemarle, deeming them improper. The objections focus on the valuation and the bidding process… Black Lion Capital Accuses Judicial Impropriety in CITGO Auction Disqualification
The judicial expert for the CITGO auction, Robert B. Pincus, opposed the emergency request made to the Delaware Court by Red Tree regarding the delivery of legal and expert documents from CITGO and PDVH. Pincus… CITGO Auction: Judicial Expert Disputes Red Tree’s Emergency Request as Court Enforces Necessary Corrections
The CITGO auction process continues to spark controversy, not just due to the complicated nature of the sale but also the political implications and the performance of its key figures, including Robert B. Pincus, the… CITGO Auction Clouded by Robert B. Pincus’s Overbilling, Lack of Transparency, and Conflicts of Interest
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
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