Gold Reserve Ltd V.GRZ

Final Sales Hearing Postponed

[slappyjo]

The Special Master has requested a 60-day extension for the final sale hearing which was supposed to be July 15. Now it is on September 19.

[mrmoribund]

Judge Stark has been so focused on moving things along, I wouldn't be surprised if he cuts the requested 60 days to 30 or 45. But some delay past the end of July (and the election) makes perfect sense.

[slappyjo]

The judge has consistenly shown he wants to keep things moving.  I doubt the VZ election has anything to do with his modifying the schedule.  If it did, he would have pushed the final sales hearing back months ago. I doubt Stark pushes Pincus to have the next hearing any sooner than Pincus wants, especially when a specific new date was requested - not just "more time". The

[slappyjo]

mrmoribund, apparently at yesterday's hearing, the judge reduced one of the deadlines from the requested 21 days down to 14 days.  The winning bid is expected around the end of July, followed by a 21-day period for objections, then a 14-day period (originally 21 days requested) for replies to the objections. Judge approved the request for the final hearing on September 19.

[Felix000]

So do we find out who's the winner at end of July?

[slappyjo]

Nothing explicit as to whether the winner will be announced publicly but it seems like it will be. See what you think. "Pincus plans to announce the winning bid on July 31, moving a years-long saga over PDV Holding closer to a conclusion. Shares of the Citgo parent company are being auctioned off by the Delaware court .... "Pincus received 'several competitive bids that the