Gold Reserve Inc V.GRZ

Order

[slappyjo]

Order of payees

[Hopeful123]

What is the order.

[slappyjo]

Here is the court's list of payess in order.  With the exception of Crystallex (at Step 7), and the Conoco Phillips' case at the bottom - the big one - (Step 4), each of the other creditors listed have completed Step 5. =========================== Crystallex Corporation (Step 7) $990,144,701.47 Tidewater Caribe S.A., Tidewater Investment SRL. $72,151,974.17 ConocoPhillps

[slappyjo]

Note that the total amout asserted by all Step 5 Creditors in this case is $10,054,479.199 The total amount asserted by ALL creditors in this case is $24,049,950,784 The approximate value of Citgo assets needed to pay GRZ and all the creditors in front of us is about $6.6 billion.  Even if half of Citgo is bought, or if all of it is bought at half of what the consensus value is, we should

[mrmoribund]

While of course it's possible the Supreme Court will hear it, the odds of that happening are probably not even one in a thousand. The SC gets many thousands of applications each year and of those they typically agree to hear about 80. Also, if I understand the matter correctly, it tends to take cases which will have some relevance to thorny / timely Constitutional questions. For the SC to

[RIDER1975]

But with the above  list about who have reached which step, do we know the exact prior list? Are we confident, that Conocos 10 bn claim will come.after GRZ?

[mrmoribund]

Yes.

[helpful1]

Slappyjo Biden reduced sanctions by 20% to get more of Venezuelan oil on the market.How do you feel about IRS , concerning tax issue on GRZ?  What do you feel will happen on Jan 22/2024 ? When will the Auction of CITGO be completed ? (June or Sept /2024)  What happens after that?  What date is the last day that is to be the cutoff date where no further creditors can lay claim.I know

[settoretire]

You just answered your own question.....duh!

[slappyjo]

helpful, I don't have many answers for you, sorry. The IRS was something I was unaware of and don't know the details. As far as court action is concerned, they have their schedule.  The actual sale is supposed to be next July. I have no idea how that process works or how long it will take. The only thing I know for sure is the amount GRZ is owed as of a couple of weeks ago. 

[helpful1]

What is likely to happen Jan 22nd & who knows tax law in the group who would like to comment on the likely outcome regarding I.R.S. Claim & Gold Reserve Reponce?  Also our amount owed.Please notre One year duration for the CITGO Auction.

[slappyjo]

We are currently owed $1.024 billion.  Interest will continue to accrue until this is over. $1.024 billion divided by 107 million shares is USD $9.57 per share gross. Take out +/- 25% for taxes, CVRs, and options and that leaves $718 per share net. This not taking into account any IRS action.

[settoretire]

who really cares. Blood from a stone. Unless there's a change in Venezuela at the top, it might as well be 10 Billion . Been holding for 15 yrs. What's another 15, but time.  The world might be a dust bowl by then if Trump gets in. Worst than that, Desantis/Christie/Biden/Harris. America has lost its mind and there is no disbuting that..

[slappyjo]

It sound like you might not understand where we are.  It's different now.  Before, what happened was determined by what Venezuela was willing to do. Now, they have virtually nothing to say.  Sure, they are putting up their normal roadblocks, but there is nothing they can do.  Their only hope is if the SCOTUS takes some action. This miserable train ride should be over in

[Optional]

Correct me if I'm wrong, when Trump was in there were no wars. Since then, ...

[settoretire]

What an assinine statement. Trump wasn't allowed to question " any " authoritarian goings on due to his owing everything he possessed to Putin an Xe. They are the Trump puppet masters and if you can't see that, then I feel really sorry for you. If the retarded Americans re elect that clown, then I agree with the other clown running ( douchaswamy ) that there should be a wall

[helpful1]

Thanks for your view & posting what could happen.Keep in mind June or Sept /2024 AUCTION should be completed. Now IRS is a wild card depending if IRS Wins or GRZ wins their tax issue case? Please comment.

[mrmoribund]

GRZ has been aware of the award taxation issue for many years and they've had top experts get them totally on top of it. I recall discussing the matter with Doug maybe 5 years ago. From the reference in the GRZ press release to double taxation it sounds like the US and Canada both want a full tax bite at this. Not a surprise at all. Why wouldn't they both want a full tax bite? And may be