Welcome to the Crystallex HUB on AGORACOM

Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

Free
Message: Re: Reuters Summit-Venezuela sees max $2.5 bln lawsuit bill

What do you people think about the max $2.5 bln lawsuit bill VS the original claim amounts at the onset of these Arbitration procedures??????????????

I have been contemplating the Venezuela arbitration history and in particular the story with Mobil/ConPhilips. These two oil companies combined probaly had claims against Venezuela totaling over 15B in damages. (15B is my estimate based on the fact that Conico Phillips seems never really announced an Arbitration damages amount, rather they negotiated in private with Venezuela). Both companies have unlimited arbitration funding and the best arbitration lawyers.
Venezuela has recently announced they are now ready to pay both companies to settle and figure they are going to satisfy Mobile/ConPhillips total claims for less than 2.5B combined. Now, Venezuela might be posturing or fishing for a lowball settlement accepance fro Mobil and ConPh early in the process by announcing they only figure they will pay about 10% of the original claim amount. So our case if we recovered 10% of 3.8B, I think we are looking at .50 per share (back of the envelope calculation) early settlement which is the biggest POS result to the KRY saga I have ever contemplated.

TIA HB.

(and as EZ would say get it now while it's cheap! ez triple from here!)

Share
New Message
Please login to post a reply