Auction of Citgo Shares Complicated
This is a U.S. news story, published by Yahoo Finance, that relates primarily to Citgo Petroleum news.
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Gramercy Distressed Opportunity FundReuters
•US court officer moves to block creditors from derailing Citgo auction
81% Informative
A U.S. federal court officer overseeing an auction of shares in the parent of Venezuela -owned refiner Citgo Petroleum asked the judge in the case to prevent additional lawsuits that could derail the sales process.
Three creditors that had registered claims with the court but are unlikely to receive auction proceeds have filed separate lawsuits this year seeking to recoup billions of dollars from defaulted Venezuelan bonds.
The parallel lawsuits have complicated the auction of Citgo 's parent, PDV Holding .
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