The intricacies of the CITGO auction are evident from various angles, one of which involves the U.S. Second Circuit Court of Appeals. Petróleos de Venezuela S.A. (PDVSA) and its subsidiaries have filed a motion to… CITGO Auction Exposes Legal Turmoil as PDVSA Challenges 2020 Bonds Amidst Controversial Sale
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
Through an oral order, the Delaware Court warned that the final recommendation from the court-appointed expert in the CITGO auction does not automatically reject all objections raised by the parties from Venezuela regarding specific clauses… Delaware Court Clarifies Peritos and Amber Energy’s Influence on CITGO Auction Objections from Venezuela
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
The request to dismiss the judicial expert in the CITGO auction, presented to the Delaware Court by the parties from Venezuela and Gold Reserve, was not successful, as the presiding judge denied the motions requesting… Delaware Court Upholds Controversial Expert in CITGO Auction Despite Venezuela and Gold Reserve’s Attempts to Disqualify
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
Immediate removal of the judicial expert in the CITGO auction, Robert B. Pincus, is essential, along with restarting the sale of the shares of PDV Holding Inc. This was reiterated by the parties from Venezuela… Venezuela Demands Immediate Removal of CITGO Auction Expert for Serious Conflicts of Interest and Calls for Restart of 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 parties from Venezuela submitted a motion to disqualify the judicial expert in the CITGO auction before the Delaware Court, regarding the case of Crystallex International Corp. against the Bolivarian Republic of Venezuela concerning the… Venezuelan Parties Target Judicial Expert in CITGO Auction Amid Amber’s Claims of Superior Offer
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 District Court has set a timeline for filing documents related to the CITGO auction following the sale hearing and deemed it unnecessary to suspend the process due to the requests for disqualification of… Court Accelerates CITGO Auction Timeline While Ignoring Challenges to Expert’s Role
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
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 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
Parts of Venezuela are pressing for the urgent delivery of documents related to the CITGO auction discovery and are advocating for hearings to be held in October. Similarly, the court has denied motions filed by… Venezuela Pushes for Immediate Document Disclosure in CITGO Auction Amidst Unresolved Legal Tensions