About Gold Reserve
Gold Reserve Ltd. is primarily focused on managing and monetizing a collection of legal and arbitral claims. Gold Reserve is listed in Canada on the TSX Venture Exchange and domiciled in Bermuda.
Gold Reserve is presently focused on pursuing enforcement of the Arbitral Award related to its rights in the Siembra Minera mining project through legal proceedings in the United States and Portugal. The company’s largest investors include US firms Camac Partners LLC, Greywolf Capital Management LP, and Steelhead Partners LLC.
CITGO Proceedings
Gold Reserve, through its Delaware subsidiary Dalinar Energy Corporation, has submitted a bid for the purchase of PDV Holding, the indirect parent company of CITGO Petroleum Corporation. The bid is supported by a consortium and if approved, would satisfy the judgments of all waterfall creditors senior to Gold Reserve.
Portugal Attachment Proceedings
Gold Reserve was granted multiple attachment orders on funds held in Portugal linked to a state-owned development bank by the Lisbon District Court. Gold Reserve seeks to recover on funds frozen in Portuguese bank accounts through international arbitration and legal proceedings.
Siembra Minera Proceedings
Gold Reserve, through its wholly-owned Barbados subsidiary, has filed a request for arbitration against the Bolivarian Republic of Venezuela under the Additional Facility Rules of the International Centre for the Settlement of Investment Disputes of the World Bank in Washington, D.C.