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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Re: A tale of setbacks as Venezuela's Citgo heads to US auction

A good speculation of what is expected regarding the auction to take place in January 2024.

What doesn't make sense to me is, why would all these companies mentioned in the article want to put their "offers to participate'" in the auction when we all know that Vz will come up with the money to get out of this mess at the last minute. They may likely have to put up a substantial "fee" to be allowed in. (Would the fee be refundable?) A common requirement in sealed bids when a request for bidding on property, assets or construction is made public. 

For bidding companies, to set themselves up for the auction process will take a heck of a lot of their resources for nothing. Lawyers, paperwork, time, personnel, courts, etc etc for 100 days. Times 5 or 10.

Defies logic?

Stark should set a date "of no return" for companies, so they don't waste their time nor energy.  

 

 

 

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