The Dutch firm CEMEX filed for arbitration (vs. Venezuela) with the International Center for the Settlement of Investment Disputes on October 16, 2008. On December 30, 2010 the ICSID issued a formal decision. It decided it has legal jurisdiction in the case.

So two years later the process of actual settlement can begin.

We've just filed for arbitration. If our case follows the course of Cemex', the ICSID will decide some time in 2013 that is has jurisdiction to hear and settle the case. A final decision, and an award to the stockholders could take, what, another decade?

As it stands, I'm almost old enough to hesitate buying green bananas. I hope OG is right, and we'll see the KRY issue resolved some other way than arbitration.

Here's the link to the CEMEX jurisdiction decision:

http://icsid.worldbank.org/ICSID/FrontServlet?requestType=CasesRH&actionVal=viewCase&reqFrom=Home&caseId=C420

Anxiously,

Lope