Marine Finance News

 

US Court Ready to restart Citgo Auction

Nov 27, 2024

A court advisor recommended Tuesday that the auction of shares in Citgo Petroleum's parent company to pay Venezuelan claims needs to be reworked. He acknowledged that a year-long process had been in disarray and needed a fresh start.The U.S. District Court in Delaware auctions shares in PDV Holding in order to pay $21.3 billion in claims made against Venezuela and the state oil firm PDVSA due to expropriation and default on debt…

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