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Will the US court finalize the terms for the Citgo share auction by August 22, 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Court filings and official announcements
Story
US Court Delays Citgo Share Auction by Three Weeks, Sets October 15 Date
Aug 1, 2024, 02:22 PM
US court officials handling the auction of shares in Citgo Petroleum's parent company to repay Venezuela's debts have requested additional time to finalize discussions. According to court filings, negotiators seek three more weeks to conclude talks and set terms for the Citgo share auction. The court has accepted this delay, pushing back the final recommendation on bids to August 22 and setting October 15 as the date to choose the winner. The auction, which could change the ownership of the seventh-largest oil refiner, has seen bids from entities including Vitol Group and Gold Reserve. The court-appointed special master overseeing the auction has asked to postpone identifying a successful bidder to August and the sale hearing to October.
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Similar markets
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Elliott Investment Management • 25%
Venezuela bondholders • 25%
Other creditors • 25%
Unknown/Not disclosed • 25%
Elliott Investment • 25%
Other US-based firm • 25%
Non-US based firm • 25%
Auction is canceled • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Below $5 billion • 25%
$5 billion to $10 billion • 25%
$10 billion to $15 billion • 25%
Above $15 billion • 25%
Bid fully denied • 25%
Bid partially granted • 25%
Bid fully granted • 25%
Case delayed beyond timeframe • 25%
