> Exclusive-Elliott weighs Citgo bid as creditor group eyes Conoco for own offer (yahoo.com)

> Getting close.

Investment banker Centerview has been retained to craft a potential bid on behalf of investors and creditors pursuing Venezuela's foreign assets in federal court in Delaware to recoup claims for expropriations and debt defaults, three of the people said.

The Centerview group wants oil producer ConocoPhillips, which holds the largest claims in the court case, to join its effort ahead of the final bidding round, which closes in June. Conoco has not decided if it will, a person familiar with its thinking said.
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BUY AND SELL

Conoco was among 12 groups that submitted indications of interest during a first bidding round in January, Reuters has reported.

Conoco could still join the Centerview group or team with Elliott. Binding offers are due by June 11.

The group represented by Centerview does not intend to own the seventh-largest U.S. refiner in the long term. It is considering forming a holding company that would allow participants to recoup claims and profits by selling stakes in the future, two of the people said.
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This is rather critical as I recall Tenor was also interested in a credit bid so could very well be part of this group that essentially wants to divvy up stakes in the cash cow known as Citgo..

Looks like the ploy all along as this way the whole Criminal interest rate thing is moot with no lump sum cash payment, no? Suddenly it makes a lot more sense why Tenor/KRY did not pursue all they are owed - the "abandoned property".

Not only should Judge Stark grant the Shareholders right to the "Abandoned property" which naturally belong to us, but we should also have the right to a credit bid in the amount equal to the full value of said property which is at minimum $500 million.

Personally will happily settle for a lifetime of dividends from CITGO.