Live Updates > Live Update Details
2025-10-10 21:16:45
[Gold Reserve Company intervenes, Venezuelan asset auction changes] ⑴ Gold Reserve, a Toronto-listed company, formally filed a motion on Friday to disqualify key participants in the auction of Citgo Oil's parent company shares. ⑵ Those required to disqualify include two institutions that provide advice to the Delaware court, a court official, and the judge who presided over the auction process. ⑶ The company also requested that all decision-making procedures related to the bidding be suspended before the ruling on the motion. ⑷ Gold Reserve is one of the 15 creditors waiting in line for the distribution of auction proceeds. This action directly impacts the disposal process of assets worth billions of dollars. ⑸ The company emphasized that this move is aimed at gaining transaction transparency for shareholders, which may significantly delay the final resolution of this protracted legal dispute.
