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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

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Message: Re: News
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Jun 14, 2011 11:51PM

I had mentioned before that I was pleased to see that KRY (CRY?!?) they essentially made two requests in their arbitration filing: on the one hand, reinstatement of the MOC; in the alternative, damages. I wondered then, and still do, whether anyone here is aware as to whether international arbitrations usually include a request for the reinstatement of the initial investment? Or do plaintiffs just ask for damages?

As far as I know, when you file a claim against someone in Court, you need to ask for every conveivable remedy - a judge is not at liberty to invent a new remedy that you didn't specifically ask for. he can decide the amount of the damages, for instance, but if you don't ask for damages, he can't award it.

So, for me, I was very encouraged to see a claim for the reinstatement of the MOC - it gives the Vennies the chance to save face by simply reversing their revocation of the deal.

JMO, of course.

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