Gold Reserve said in a statement it was concerned by the recent stay motion filed by Venezuela and PDV Holding given the three extensions to naming a winner to date.
“We have worked with many great partners during this prolonged process but now, given the elapsed time, uncertainty and lack of visibility on the outcome, we are on our own and outside of the bidding,” said Paul Rivett, executive vice chair, in a statement.
He said the company hopes the court officer overseeing the bidding “will recommend a fair deal to the court and judgment creditors soon.”
The court officer overseeing the auction “has not disclosed any specifics concerning the status of the negotiations” with the remaining bidders, Gold Reserve said. The court also has not provided “any specifics concerning the procedures for other potential bidders to submit topping bids after the sales motion is filed,” it added.
A US District court in Delaware…
