Citgo’s Sale Draws Nearer as Claimants Submit Binding Bids

The deadline for submitting binding bids for the parent company of Venezuelan refiner Citgo Petroleum is expiring on Tuesday while the deadline for completing the court-appointed auction and the awarding of the winners is July 15.    A U.S. federal court in Delaware is accepting until today binding bids in the second bidding round for the shares of Citgo’s parent company, Venezuela’s PDV Holding, as creditors and claimants seek compensation for asset nationalization under Hugo Chavez and failure to repay debts under Nicolas…