Crystallex International Corporation v. Bolivarian Republic of Venezuela

  1. February 15, 2024

    Del. Judge Won't Reorder Priority Scheme For Citgo Auction

    A Delaware federal judge on Thursday denied a bid from certain creditors of Venezuela for a "more equitable" distribution of proceeds from an auction for control of the U.S. oil giant Citgo slated for later this year, ruling that their motion came too late.

  2. February 08, 2024

    Creditors Say Don't Reorder Priority Scheme In Citgo Auction

    Creditors of Venezuela that are favorably positioned to recoup billions of dollars they're collectively owed in an upcoming auction for control of U.S. oil giant Citgo urged a Delaware federal judge on Wednesday not to grant a hedge fund's request for a "more equitable" distribution of the proceeds.

  3. September 12, 2023

    Crystallex Can't Nip Venezuela's 'Collusive' Case In The Bud

    A Delaware federal judge declined Crystallex's bid on Tuesday for him to immediately consider an issue that's arisen in parallel state court proceedings, which the defunct Canadian mining company argues could gum up a long-delayed auction for control of the U.S. oil giant Citgo.

  4. July 27, 2023

    Citgo Claims To Be Decided In Order, Del. Federal Judge Says

    A judge in Delaware federal court decided on Thursday that creditors of Venezuela will have their claims prioritized in the order they sought to seize shares in Citgo's parent company, as the court gears up for an auction for control of the U.S. oil giant that's tentatively scheduled for next summer.

  5. July 17, 2023

    Citgo Auction Will Proceed As Planned, Del. Judge Says

    A Delaware judge on Monday overruled a last-ditch objection lodged by Venezuela's state-owned oil company that was aimed at tapping the brakes on a long-delayed auction for control of Citgo, setting a tentative date for the sale hearing in July 2024.

  6. June 26, 2023

    Del. Ruling Nudges Citgo Sales Process Along

    A federal judge said Monday that he will not ask Delaware's highest court whether he can order Citgo's parent company to reissue the certificate for its shares, an issue that has been complicating a court-ordered sales process to satisfy more than $1 billion worth of Venezuelan debt.

  7. June 08, 2023

    Venezuela Says Other Creditors Can't Get In On Citgo Sale

    Venezuela urged a Delaware federal judge not to include creditors of Venezuela other than defunct Canadian gold miner Crystallex International Corp. in a sales process for control of Citgo, saying those vying to get in on the auction must first secure "valid" attachment orders over the shares.

  8. June 06, 2023

    Special Master Eyes Sept. Launch Date For Citgo Auction

    The special master overseeing an impending auction for energy giant Citgo wants a federal judge to kick-start the sale process in late September, accusing Venezuela and its state-owned oil regime of voicing objections that "are all recycled and have long been addressed by the court."

  9. April 30, 2023

    Biden Administration Greenlights Citgo Sale

    The Biden administration will not stand in the way of a sales process for control of Citgo that's expected to satisfy billions of dollars in debt owed by Venezuela, according to documents filed in Delaware federal court late Friday.

  10. April 27, 2023

    Judge Sinks Venezuela DQ Bid In Citgo Suit As Appeal Looms

    A Delaware judge refused Thursday to prevent a special master from continuing to coordinate a high-profile auction for control of Citgo while Venezuela asks the Third Circuit to disqualify him from the case, saying the country hadn't shown that its appeal is likely to succeed.