Citgo Auction Turns Ugly as Venezuela Fights to Keep Its Last Crown Jewel

The fight over Venezuela’s last major foreign asset just got nastier. Lawyers for Citgo Petroleum and its owner, PDV Holding, told a Delaware court this week that Elliott Management’s affiliate Amber Energy shouldn’t even be in the running for Citgo’s parent company—calling its bid “so low it shocks the conscience.” What began nearly six years ago as a straightforward plan to settle old creditor claims has turned into something else entirely — a slugfest over conflicts of interest, political meddling,…