Gold Reserve Ltd. filed an appeal with the U.S. Court of Appeals regarding the sale of PDVH Shares to Elliott/Amber Energy, claiming the sale violates Delaware law by not selecting the highest bidder. The company argues that the District Court should have disqualified itself due to conflicts of interest. Additionally, Gold Reserve reached a settlement to pay approximately $5 million in commitment fees to banks involved in its bid for PDVH Shares.
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