Citgo's Venezuelan Parent Weighs US Bankruptcy to Slow Sale [Yahoo! Finance Canada]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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Source: Yahoo! Finance Canada
holding company file for bankruptcy in the US, according to people familiar with the deliberations. Most Read from Bloomberg Opposition-appointed Petroleos de Venezuela executives are seeking to retain control of their most important overseas asset, which is up for action, and are mulling using a US Chapter 11 filing to block finalization of its sale, said the people, who asked not to be identified because they weren't authorized to speak publicly about the tactic. Trade publication Reorg previously reported the plan. ADVERTISEMENT Final bids are due June 11 for shares of Citgo's US parent – which amount to ownership of the refiner — in a separate legal process. If the opposition decides to file for bankruptcy protection, it's unclear whether that would happen before then, or before the winning bidder is announced in July, the people said. “This play would buy them some more time to try and hike what they get for Citgo or bring in an outside party to rescue it,” said Charles
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COP
Earnings
- 5/2/24 - Beat
COP
Sec Filings
- 6/4/24 - Form 4
- 6/4/24 - Form 4
- 5/29/24 - Form 8-K
- COP's page on the SEC website