financetom
Business
financetom
/
Business
/
US court overseeing Citgo share auction ends talks with Venezuela bondholders, filing shows
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US court overseeing Citgo share auction ends talks with Venezuela bondholders, filing shows
Oct 2, 2024 11:57 PM

HOUSTON, Sept 27 (Reuters) - A U.S. court officer

overseeing an auction of shares in a Citgo Petroleum

parent disclosed on Friday he has ended talks with holders of

Venezuela 2020 bonds seeking to receive proceeds from the court

auction, a filing showed.

The court has not been able to reach an agreement with the

bondholders and discussions are no longer active, Delaware

District Court Special Master Robert Pincus said in a filing.

The bonds were secured with a pledge of a controlling interest

in another Citgo parent.

U.S. District Court in Delaware is auctioning shares in PDV

Holding to repay $21.3 billion in claims against Venezuela and

state-oil firm PDVSA for expropriations and debt defaults. The

bondholders have been pursuing their claims in separate court

actions.

Pincus, who had missed several deadlines to provide the

court with the winner and sale terms of the auction, has blamed

bondholders' legal filings for complicating talks with a bidder.

Bidder Gold Reserve this month dropped out of the running over

delays and uncertainty surrounding the auction. Pincus' filing

said he reserves the right to re-engage with the bondholders in

the future.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
BRIEF-Blank Check Company Timber Road Acquisition Corp Adds Stonex Financial As Underwriter To IPO - SEC Filing
BRIEF-Blank Check Company Timber Road Acquisition Corp Adds Stonex Financial As Underwriter To IPO - SEC Filing
Aug 4, 2025
* BLANK CHECK COMPANY TIMBER ROAD ACQUISITION CORP ADDS STONEX FINANCIAL AS UNDERWRITER TO IPO - SEC FILING Source text: Further company coverage: [ ] ...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
B2B event firm Emerald beats Q2 revenue expectations
B2B event firm Emerald beats Q2 revenue expectations
Aug 4, 2025
Overview * Emerald Q2 revenue grows 22.7% yr/yr, beating analyst expectations * Adjusted EBITDA for Q2 rises 59.5%, surpassing estimates, per LSEG data * Company reports Q2 net loss of $1.4 mln, down from $2.8 mln last year Outlook * Emerald reaffirms full-year 2025 revenue guidance of $450-460 mln * Company expects full-year 2025 adjusted EBITDA of $120-125 mln *...
Market Chatter: Delta Air Lines Faces Criticism for Using AI to Set Fares
Market Chatter: Delta Air Lines Faces Criticism for Using AI to Set Fares
Aug 4, 2025
06:36 AM EDT, 08/04/2025 (MT Newswires) -- Delta Air Lines ( DAL ) is facing pushback from lawmakers who object to the airline using artificial intelligence to set airfares, The Wall Street Journal reported on Sunday. Delta executives said in July that the airline's new AI tool could help set up to 20% of its domestic fares by the end...
Copyright 2023-2026 - www.financetom.com All Rights Reserved