Gold Reserve Ltd V.GRZ

Conoco

[agtavy]

In Conoco's most recent filing with the Special Master, they are seeking compensation for three different suits.  It looks like the ICSID suit alone is over $10 billion, plus they have two others which puts them closer to $12 billion - approximately the total value of Citgo.

Conoco's Letter to Special Master

[RIDER1975]

Do you know any source where we can check whether conoco is prior to RML or GRZ or not on the prior list? 

[settoretire]

Besides Crystallex, companies with writs of attachment in hand are ConocoPhillips, Red Tree Investments, Siemens, O-I Glass (OI.N), Huntington Ingall Industries (HII.N), ACL1 Investments, Rusoro Mining (RML.V), two units of Koch Industries and Gold Reserve (GRZ.V). PAYMENT PRIORITY Delaware law concerning the enforcement of money judgments generally requires that sale

[agtavy]

It looks like most of Citgo's value will be swallowed up by Conoco and Crystallex.

[RIDER1975]

Is that possible, that in case of Conoco, their three differents suits get three different position on the prior list? If not, I am affraid RML and GRZ have to wait many additional years to have their claims paid. With a nice interest accumulating of course. The movements of the shares  prices dont show any real doubt with the abovr mentioned. Or they do, as marlet caps are fsr away fron the

[agtavy]

We know Conoco was specifically named as being at the front of the line. Whether that's one, two or all three of their suits, I don't know. GRZ won its ICSID in 2014 - nine years ago.  Without the current proceedings in the USA, Venezuela would never pay, and still may never pay voluntarily if no Citgo's assets remain after paying those first in line.   It's not a

[ugluuak]

This post has been removed in accordance with Community Policy

[RIDER1975]

If you are right, buying, holding these shares have become a high risk binary play, everything or nothing.  (There is a tiny chance that once VZ in the distant future transforms to a "normal" system, trying to return to the worlds economic relations, such claims will be settled from then huge commodity revenues. But that may take decades....) So its quite essential to investigate

[agtavy]

Agreed.  GRZ and RML have nothing going on, and haven't for over a decade, except for their lawsuits. Both stocks have risen as the Delaware case has progressed consistently in favor of the plaintiffs.

[RIDER1975]

Ok, I guess you are an in investor, speculator, in these stocks, otherwise wouldnt be here.. and seemed well informed. If so, also essential to find out what may happen, thus need to know the way the prior list will look like. Not just more or less, but precisely . I would be really grateful if someone shared any link where we can be more updated relating these things.

[agtavy]

I first bought GRZ in 2008 as an investment and have been following them very closely since and recently bought some RML on speculation. I believe GRZ is last of the first group of six to have an conditional attachment.  Crystallex is first and believe Conoco-Phillips is second.  The question for me now is with COF and if all three of their judgments will be satisfied by the sale

[RIDER1975]

Many thanks for your thoughts!  I have read somewhere, that COF had more  suits, and somehow the one with the huge amount (10bn) might not be in the front of the prior list. 

[agtavy]

That seems to be the big question for GRZ

[RIDER1975]

Thanks. The above written order are identical with the prior list?  Thus in theory, some of them may find themself without any payment in the end. (?).