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 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 United States District Court for the District of Delaware established the guidelines for the CITGO auction through an oral order issued by Judge Leonard P. Stark. The magistrate, after determining that the participating entities… US District Court Sets Controversial Guidelines for CITGO Auction Amidst Intense Legal Scrutiny
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
Amid the hectic process of the CITGO auction, Horacio Medina, president of the Ad Hoc Administrative Board of PDVSA, assured that the funds from the Venezuelan refinery in the United States were not used to… CITGO Auction: Horacio Medina Accuses Interin Government of Misusing Refinery Funds for Political Gain
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
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
Judge Leonard P. Stark denied Leroy A. Garrett a set of motions aimed at requesting reconsideration, expedited review, a pre-hearing conference, investigation, increased transparency, and a temporary stay of the CITGO auction. The order was… Court Rejects Leroy Garrett’s Motions for Transparency and Suspension of CITGO Auction Amid Ongoing Legal Battle
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 process is full of various situations, including a court motion requesting an investigation into the alleged irregularities committed by the Ad Hoc Board of PDVSA. This action was presented by the victims… Ex-Employees Demand Suspension of CITGO Auction Amid Government and PDVSA Board Corruption Allegations
The CITGO auction has turned the Delaware Court into a bustling hub where, day by day, the court clerk is inundated with motions, requests, and various claims. Recently, these have included requests to suspend the… CITGO Auction Crisis Unfolds in Delaware Court Amid Allegations of Judicial Misconduct and Workers’ Rights Violations
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
In the CITGO auction process, Crystallex International Corporation expressed its objection to the Delaware Court regarding the court expert Robert B. Pincus responding to the dismissed PDVSA workers about how their rights would be upheld… Crystallex Attempts to Silence Workers’ Rights in CITGO Auction Process Amid Legal Dispute