Venezuelan oil refiner Citgo asks US judge to postpone auction of its assets

Wall Street Journal China

Jay S. Auslander

August 21, 2018

Recent moves by Venezuela’s more aggressive judgment creditors have taken square aim at the country’s most prized overseas asset, the US-based oil services and refinery company Citgo Petroleum Corporation, by attempting to seize a majority stake in one of its parents. In a review of the latest developments in federal court with the Wall Street Journal’s Chinese international edition, Jay Auslander, a partner in the firm’s litigation group, emphasizes the very awkward position in which Citgo now finds itself.

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