pdvholdings

Citgo refinery
PDVSA’s legal representatives said the auction “deeply harms the Venezuelan people at a time when they are rebuilding their economy.”
On Wednesday, October 21, an appeals court in Philadelphia, United States, heard from the parties involved in the lengthy court-ordered auction of the parent company of Venezuelan refinery Citgo Petroleum.
Supporters defended a decision by a federal court in Delaware, issued late last year, that ordered the company’s sale for $5.9 billion to a subsidiary of an investment fund. Opponents, including Venezuela, some creditors and other bidders, argued that the process was flawed because the court rejected higher bids.

The lawyer representing Venezuela’s state-owned company, Katherine Wellington, notified a U.S. appeals court.
Officials at state-owned Petróleos de Venezuela S.A. (PDVSA) are working to appoint new boards of directors for its U.S. subsidiaries, PDV Holding and Citgo Petroleum Corporation (CPC).
Lawyer Katherine Wellington, who represents the Venezuelan energy company, notified a U.S. appeals court this Wednesday, October 21.