Gold Reserve (GRZ.V) said Friday that it has filed its opening appeal brief with the U.S. Court of A

Gold Reserve (GRZ.V) late on Tuesday said it obtained a favorable final award in its pending interna

At stake is Citgo’s 800,000-barrel-a-day refining network, a series of pipelines and terminals, and marketing deals with 4,000 independently owned retail outlets.

HOUSTON (Reuters) -A U.S. judge allowed an affiliate of hedge fund Elliott Investment Management on Thursday to move towards completing its offer for Venezuela-owned Citgo Petroleum's parent through a court-ordered auction of shares, while restricting rival bidder Gold Reserve from doing the same. Delaware Judge Leonard Stark instructed a court officer overseeing the auction of shares to terminate a stock purchase agreement (SPA) with a Gold Reserve subsidiary and sign a new one with Elliott's affiliate Amber Energy, Gold Reserve said in a release.

Gold Reserve Ltd. (GRZ.V) was at last look down more than 40% and had touched as low as $1.83, compa

A U.S. court on Monday begins the final sale hearing of an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum to pay creditors, following heavy competition for the seventh largest U.S. refiner. A court officer overseeing the auction in August changed his recommendation of winner to a $5.9 billion offer by an affiliate of hedge fund Elliott Investment Management, following a bidding war. The change has triggered objections and intensified a fight between creditors and bondholders in pursuit of the same assets.

A Delaware court is inclined to deny a motion made last month by miner Gold Reserve to disqualify a rival bid for the parent of Venezuela-owned refiner Citgo Petroleum from an affiliate of hedge fund Elliott Investment Management, Judge Leonard Stark said in a filing on Wednesday. The court is set to begin the final sale hearing next week in the court-organized auction of shares aimed to pay creditors for past expropriations and debt defaults by Venezuela. The hearing will follow the preliminary selection last month of a $5.9 billion bid from Elliott's affiliate Amber Energy as the best offer submitted in the auction so far.

Gold Reserve (GRZ.V), which jumped 23.6% in Canada trading last Friday, said over the holiday weeken

Delaware judge Leonard Stark is expected to make a final ruling after a court hearing next month.

HOUSTON (Reuters) -A $5.89 billion bid from an affiliate of hedge fund Elliott Investment Management has been recommended as the winner of a U.S. court-organized auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum, according to documents filed late on Friday by the officer overseeing the sale process. The recommendation from court officer Robert Pincus came despite a last-minute effort from a subsidiary of miner Gold Reserve earlier this week to sweeten its $7.4 billion offer, which had previously been marked as the frontrunner. Earlier this month, Pincus said an improved bid from Elliott's affiliate Amber Energy was superior.