Holders of billions of dollars in Venezuelan bonds and notes have emerged as last-minute protagonists in a U.S. court case set to decide the ownership of major fuel retailer and oil refiner Citgo Petroleum, threatening to derail an auction to compensate more than a dozen companies for unpaid debts and expropriations by the country.
At least two groups of holders have resorted to other U.S. courts to enforce their claims, pursuing the same Citgo assets that industrial conglomerates, mining and oil firms have been pursuing for years.
The court cases, designed to circumvent the court's priority in payouts, have added new delays to a 7-year-long case and increased uncertainty over which company best positioned to take over the seventh-largest U.S. refiner.
Full story Citgo auction in jeopardy as Venezuela bondholders pursue parallel claims | Reuters
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