U.S. court upholds award to miner Crystallex in Venezuela dispute

[jat]

U.S. court upholds award to miner Crystallex in Venezuela dispute
27 (Reuters) - A U.S. court has upheld an award by a World Bank Tribunal
that orders Venezuela to pay more than $1 billion to Canadian mining company
Crystallex, paving the way for the firm to seize assets for the 2008
expropriation of the Las Cristinas gold project.

The tribunal known as the International Centre for Settlement of Investment
Disputes (ICSID) last year ordered Venezuela to pay Crystallex $1.2 billion
plus accrued interest, which adds an additional $200 million for a total of
$1.4 billion.

The ICSID is often used by global companies seeking compensation from
governments that have nationalized their assets.

http://www.dailymail.co.uk/wires/reuters/article-4353364/U-S-court-upholds-award-miner-Crystallex-Venezuela-dispute.html

[PL]

Just like Castro: steal and spend for popularity and "international
revolution"
A just verduct punishing abusive dictators.

Post by jat
U.S. court upholds award to miner Crystallex in Venezuela dispute
27 (Reuters) - A U.S. court has upheld an award by a World Bank Tribunal
that orders Venezuela to pay more than $1 billion to Canadian mining company
Crystallex, paving the way for the firm to seize assets for the 2008
expropriation of the Las Cristinas gold project.
The tribunal known as the International Centre for Settlement of Investment
Disputes (ICSID) last year ordered Venezuela to pay Crystallex $1.2 billion
plus accrued interest, which adds an additional $200 million for a total of
$1.4 billion.
The ICSID is often used by global companies seeking compensation from
governments that have nationalized their assets.
http://www.dailymail.co.uk/wires/reuters/article-4353364/U-S-court-upholds-award-miner-Crystallex-Venezuela-dispute.html