Mike Mozart
Venezuela has also stated it will pursue legal action against those involved in this process.
The statement says, "CITGO is a valuable asset of Petróleos de Venezuela (PDVSA), which the U.S. government is trying to seize through a legal process that is clearly illegal… The Venezuelan government and PDVSA were deliberately and illegally excluded from the process due to pressure from U.S. leadership on the country’s courts, which prevented them from exercising their right to defend themselves."
This announcement was made a week after a U.S. District Court judge in Delaware gave preliminary approval to a $5.9 billion bid from a subsidiary of investment firm Elliott Investment Management for Citgo in a court-approved auction.
The sale was intended to settle debts owed to over a dozen creditors and to compensate for the nationalization of assets in Venezuela.
According to the AP, legal teams representing Venezuela, Citgo, its parent company, and American mining company Gold Reserve, which had also bid for the asset, appealed the ruling on December 1.
source: apnews.com
The statement says, "CITGO is a valuable asset of Petróleos de Venezuela (PDVSA), which the U.S. government is trying to seize through a legal process that is clearly illegal… The Venezuelan government and PDVSA were deliberately and illegally excluded from the process due to pressure from U.S. leadership on the country’s courts, which prevented them from exercising their right to defend themselves."
This announcement was made a week after a U.S. District Court judge in Delaware gave preliminary approval to a $5.9 billion bid from a subsidiary of investment firm Elliott Investment Management for Citgo in a court-approved auction.
The sale was intended to settle debts owed to over a dozen creditors and to compensate for the nationalization of assets in Venezuela.
According to the AP, legal teams representing Venezuela, Citgo, its parent company, and American mining company Gold Reserve, which had also bid for the asset, appealed the ruling on December 1.
source: apnews.com
