Michael C. Lynch, president of Strategic Energy & Economic Research and distinguished fellow at the Energy Policy Research Institute: “Because a U.S. judge has allowed more creditors of Venezuela to participate in a planned auction of shares in PDV Holding, which controls Venezuelan-owned Citgo Petroleum, a negotiated settlement is less likely and the auction, scheduled for Monday, will proceed. Crystallex and ConocoPhillips have sued for an amount nearly equal to the value of the company and with the addition of further creditors, the likelihood that PDV Holding will be left with a significant ownership share is diminished. ConocoPhillips has the largest claim against PDV Holding, which would, in theory, give it the best chance of controlling Citgo. However, ConocoPhillips might not bid on the shares, preferring the cash from the sale after…”
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Freshfields Bruckhaus Deringer
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Atlas Renewable Energy
Jeffrey Davidow
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Jonathan C. Hamilton
Partner,
White & Case
Raul Herrera
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Arnold & Porter
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Monarch Global Strategies
Jorge Kamine
Partner, Corporate &
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Willkie Farr & Gallagher
Craig A. Kelly
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