07-07-2025
Venezuela Bondholders Seek to Block Gold Reserve's Bid for Citgo
Holders of some defaulted Venezuelan bonds are seeking to block a bid to purchase Citgo Petroleum Corp. 's parent company, as they claim the transaction would strip them of their rights for payment.
The group told a Manhattan federal judge in a letter they are prepared to request a preliminary injunction 'promptly' against a $7.4 billion offer from a consortium led by Gold Reserve Ltd. to buy PDV Holding, Citgo's parent, in a court-ordered auction in Delaware.
