Siemens sues Citgo's parent
This is a Venezuela news story, published by Yahoo Finance, that relates primarily to Gramercy Distressed news.
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Siemens Energy IncReuters
•Siemens files lawsuit in Texas against Citgo Petroleum parent
78% Informative
Siemens Energy seeks to recoup about $200 million from a promissory note defaulted by Venezuela .
Creditors that are part of an auction of Citgo parent's shares in a Delaware court have begun turning to other U.S. courts to enforce their claims.
The dispute between PDVSA and Siemens comes from a transaction under which engineering firm Dresser-Rand Company , acquired by Siemens , was entitled to receive some $166 million .
Gramercy Distressed Opportunity Fund and two related companies have filed similar lawsuits.
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