Loading ...A court in the U.S. District of Columbia is allowing Canadian Crystallex the possibility of advancing in a legal dispute against Venezuela, following the expropriation of its assets in Las Cristinas gold mine in 2008.
The decision, which was made public last week, allows Crystallex to enforce in other U.S. jurisdictions a previous ruling issued in March by the same court. Such ruling upholds an award by a World Bank tribunal that orders Venezuela to pay the miner $1.2 billion in compensation plus $200 million in interest for what the Hugo Chávez government did at Las Cristinas.
Both the March and the June decisions are crucial steps in the company’s quest to seize Venezuelan assets in the United States. In fact, the Toronto-based firm could now seek an attachment of assets such as Citgo, a refining and marketing subsidiary of Petróleos de Venezuela PDVSA.
cont. http://www.mining.com/crystallex-moves-forward-legal-dispute-venezuela/