Gold Reserve Ltd. Faces Legal Dispute Over CITGO Sale Process Amid Competing Bid Challenges

Reuters

08/14

Gold Reserve Ltd. Faces Legal Dispute Over CITGO Sale Process Amid Competing Bid Challenges

Gold Reserve Ltd., through its subsidiary Dalinar Energy Corporation, is involved in ongoing legal proceedings regarding the purchase of shares in PDV Holding, Inc., the indirect parent company of CITGO Petroleum Corp. The U.S. District Court for the District of Delaware has scheduled a Sale Hearing for August 18, 2025, to discuss the Special Master's recommendation of Dalinar Energy's $7.382 billion bid. A competing bid from Amber Energy, valued at $5.859 billion, has been contested by Gold Reserve on the grounds that it violates bidding procedures by not meeting the overbid minimum requirement. Additionally, the Special Master has alleged an unauthorized disclosure of confidential information related to the Amber Energy bid and has requested an adjournment of the status conference to consider recent developments. The Court has rescheduled the status conference to August 15, 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Gold Reserve Ltd. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250813462857) on August 13, 2025, and is solely responsible for the information contained therein.

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Faces Legal Dispute Over CITGO Sale Process Amid Competing Bid Challenges","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Gold Reserve Ltd. Faces Legal Dispute Over CITGO Sale Process Amid Competing Bid Challenges\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Gold Reserve Ltd., through its subsidiary Dalinar Energy Corporation, is involved in ongoing legal proceedings regarding the purchase of shares in PDV Holding, Inc., the indirect parent company of CITGO Petroleum Corp. The U.S. District Court for the District of <a href=\"https://laohu8.com/S/VMM\">Delaware</a> has scheduled a Sale Hearing for August 18, 2025, to discuss the Special Master's recommendation of Dalinar Energy's $7.382 billion bid. 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Faces Legal Dispute Over CITGO Sale Process Amid Competing Bid Challenges\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time smaller\">2025-08-14 03:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Gold Reserve Ltd. Faces Legal Dispute Over CITGO Sale Process Amid Competing Bid Challenges\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Gold Reserve Ltd., through its subsidiary Dalinar Energy Corporation, is involved in ongoing legal proceedings regarding the purchase of shares in PDV Holding, Inc., the indirect parent company of CITGO Petroleum Corp. The U.S. District Court for the District of <a href=\"https://laohu8.com/S/VMM\">Delaware</a> has scheduled a Sale Hearing for August 18, 2025, to discuss the Special Master's recommendation of Dalinar Energy's $7.382 billion bid. A competing bid from Amber Energy, valued at $5.859 billion, has been contested by Gold Reserve on the grounds that it violates bidding procedures by not meeting the overbid minimum requirement. 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ID: 20250813462857) on August 13, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1125","symbol_name":"獨立電力生產商與能源貿易商","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250813:nNDL7h9twZ:1","article_id":"2559986759","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2559986759","pubTimestamp":1755113724,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Gold Reserve Ltd., through its subsidiary Dalinar Energy Corporation, is involved in ongoing legal proceedings regarding the purchase of shares in PDV Holding, Inc., the indirect parent company of CITGO Petroleum Corp. 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