Post by
mrmoribund on Oct 21, 2024 10:00am
Special Master is Elliot's agent and should be fired
Gold Reserve is "working" on a superior bid? True, no doubt, but, actually, the company already made a superior bid in June.
Looks very positive that even Crystallex is objecting to the Elliot bid. Presumably, even under the horrible Elliot bid, Crystallex would get paid in full.
Absolutely disgusting that Elliot would collect a breakup fee when their miserable, borderline corrupt, bid is "topped."
Double disgusting that the Elliot bid would pay off the PDVSA 2020 bondholders before any of the creditors. What a big surprise it will be if / when it comes out that Elliot owns piles of the 2020 bonds.
And the data room still remaining shut? And Elliot's "negotiated" breakup fee remaining redacted?
It all just takes the cake.
Comment by
slappyjo on Oct 21, 2024 10:10am
Elliott/Amber Energy is affiliated with Gramercy Distressed Opportunity Fund (a PDVSA creditor way down the list and will get nothing from the Citgo sale), which owns over $500 million in 2020 bonds and is also one of the alter-ego plaintiffs who filed recent parallel suits in Texas and New York. Hmm