Reported 23 days ago
Bondholders and bidders are contesting a $7.4 billion bid by a Gold Reserve-led group for Citgo Petroleum, Venezuela's key asset being auctioned to repay creditors. Legal documents show objections based on the bid's exclusion of certain bondholder protections, raising concerns over the auction process. The ongoing legal dispute and the uncertainty surrounding bondholder rights could further complicate the sale, with a final hearing set for August 18.
Source: YAHOO