New creditors’ battle emerges in Citgo auction reboot – Oil & Gas 360

New creditors’ battle emerges in Citgo auction reboot – Oil & Gas 360

(Investing) – HOUSTON – A U.S. federal judge trying to move ahead with an auction of shares in the parent of Venezuela-owned U.S. refiner Citgo Petroleum is dealing with a fresh dispute between creditors after a lowball starting bid was recommended in a reboot of the sale. The complex auction meant to repay 18 creditors for debt defaults and expropriations by Venezuela and state oil company PDVSA was relaunched in January after a year-long biddin

A U.S. federal judge trying to move forward with an auction of shares in the Venezuelan-owned U.S. refinery matrix Citgo Petroleum contends with a new dispute between creditors after a low initial bid was recommended at a re-start of the sale. The complex auction destined to pay [...] The entry There is a new battle between creditors following the resumption of the Citgo auction was first published in Information Focus.

The federal judge of Delaware, in the United States, Leonard Stark, is dealing with a new dispute between a creditor group, after the recommendation of an initial offer for the shares of the Venezuelan refinery, Citgo Petroleum. By Reuters However, the lawyers who represent Venezuela in the case have also rejected the method applied to decide the fate of the Venezuelan company. The amount of debt that Venezuela and Petróleos de Venezuela S.A (PD…

Citgo Auction Sparks Fierce Battle Among Creditors in High-Stakes Clash - EnergiesNet

New bidding round starts after year-long auction ended in shambles. Creditors’ dispute over minimum bid to add more delays in 8-year-old case. Bondholders pact released at Gold Reserve-consortium’s request. Bids by Venezuela-linked creditors turn auction into creditors game Marianna Parraga, Reuters HOUSTON EnergiesNet.com 03 28 2025 A U.S. federal judge trying to move ahead with … Citgo Auction Sparks Fierce Battle Among Creditors in High-Stake…