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US Supreme Court Rejects Venezuela's Citgo Appeal

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Venezuela’s Citgo asset sale appeal with the US supreme court has been refused.

  • It had launched the appeal to try and limit the number of creditors that could participate in a scheduled auction of Citgo’s parent company.
  • Nearly two dozen companies, including ConocoPhillips, Exxon Mobil and Tenaris SA, are seeking to have about $20b in claims against Venezuela or Petroleos de Venezuela SA satisfied by the sale of shares in PDV Holding, one of Citgo’s parent companies.

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