US judge approves Citgo parent share sale plan

摘要

A US court-approved plan to sell shares of refner Citgo’s par-ent company to pay back creditors may still face challenges from competing claims and the US government. Judge Leonard Stark of the US District Court in Delaware ruled this week that the sixth iteration of a proposed sale schedule for PdV Holding (PdVH) in the case may move ahead. It would likely generate enough to satisfy $970mn in remaining debts to defunct mining frm Crystallex, now owned by New York hedge fund Tenor Capital.