Reported 4 days ago
A US judge has reopened the bidding process for Citgo Petroleum Corp.'s parent company, allowing new offers to compete against a previous $7.3 billion bid from Elliott Investment Management. This decision comes after creditor criticisms regarding the fairness of the initial bidding process and aims to maximize revenues for a group of creditors owed about $20 billion by the Venezuelan government. The new hearing is set for late July in Wilmington, Delaware.
Source: YAHOO