1.
Delaware Court:
Selection of Amber as trustee / Citgo auction: Amber Energy
(affiliated with Elliott) has submitted a bid for Citgo's parent company (PDV
Holding) of approximately US$ 5.9 billion, with a collateral agreement to pay
US$ 2.1 billion to the holders of the PDVSA 2020 bonds.
Formal delivery of the creation of the Qualified Settlement
Fund (QSF), submitted under case file No. 1:15-cv-00912-LPS.
Challenges: Gold Reserve (one of the parties that offered
more for Citgo) filed lawsuits to reject Amber's offer, accusing lack of
transparency and conflict of interest.
Deadline and urgency: Amber's offer with the bonds expires in
early December, putting pressure on the court to decide soon.
Dr. Garrett appeared in court on 10/20/25 to be questioned
and to give instructions to the expert who will manage the QSF. Awaiting
response.
2. Judge
Hall's Court:
Review of the case requesting acceptance of natural creditors
under the Alter Ego doctrine. Decision pending.
3. Judge
Failla’s Court:
Acceptance of Dr. Garrett's representation of the 23,000
victims of the oil holocaust, within the case of the 2020 Bonds.
Issuance of an order requesting reasons for opposition to
accepting oil workers as preferred creditors under the Alter Ego.
4.
Supreme Court:
Acceptance of the writ of certiorari requested by Dr. Garrett
against PDVSA Ad Hoc. In progress.
5. Court
of Appeals:
Motions submitted questioning malpractice by both Judge Stark
and Master Pincus.
Questions regarding lack of transparency in the process and
crossing out documents.
6. OFAC:
This body holds all cases filed in the various courts, as
well as the challenges to the process led by Stark and Pincus.
Also includes PDVSA Ad Hoc’s omission regarding workers under
the Alter Ego doctrine.
Pending Management Review: OFAC management is reviewing the
response to the request.
7. IACHR:
Registration of the case of the 23,000 survivors of the
PDVSA purge in Venezuela.