Amber Energy

Gold Reserve Ltd. is embroiled in a legal battle over the sale of PDV Holding, Inc. (PDVH), parent of CITGO. After a recommendation for Gold Reserve’s subsidiary to acquire PDVH for $7.382 billion, Red Tree Investments introduced a competing bid from Amber Energy. The Special Master paused proceedings, citing unauthorized disclosure, to reassess. Gold Reserve argues the Amber Energy bid is deficient and violates bidding procedures. The Court rescheduled a status conference amid the ongoing disputes, anticipating further arguments requiring judicial resolution.