Reported 1 day ago
Bondholders of a key Venezuelan bond have approached a New York court to secure their rights and claim compensation from an upcoming auction of shares linked to Citgo Petroleum's parent company. Although their claim remains unresolved, the bondholders aim to obtain an injunction to block the transfer of shares if a proposed $7.4 billion bid by a group including Gold Reserve is approved, as it does not include provisions for their compensation. Legal representatives have expressed their intention to protect the bondholders' interests while the court addresses these outstanding issues.
Source: YAHOO