Re: A little late....Conoco case..17 months after final hearing..
in response to
by
posted on
Nov 13, 2011 12:43PM
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
Agreed RedRock, there has been an emphasis on speeding up cases and it actually appears to be having an effect.
Our panel looks pretty good, with one exception IMO (the age of one member):
Laurent Lévy
Four prior ICSID arbitrations, three done in about 2 years, one delayed due to
arbitrator resignation.
John Y. Gotanda
This is his first ICSID case, but he wrote a great law review article
on LOST PROFITS that is quite applicable to our case:
"Today, there is a universal consensus that a party who has been injured
by a wrongful breach of contract is entitled to be placed in the
position the party would have been in had the contract been performed.
Therefore an injured party is entitled to recover both losses incurred
as well as gains of which it was deprived because of the breach. While
national laws impose different requirements and limitations on the recovery
of lost profits, the differences, in general, have not been problematic for
tribunals deciding transnational contract disputes. Rather, it is the
calculation of lost profits that has proved troublesome and has resulted
in different treatment for similarly situated parties. Of particular note
has been conflicting tribunal awards resulting from the application of the
new business rule and the abuse of rights doctrine as an international legal
principle. Neither should limit a legitimate claim for lost profits. To do
so would leave the injured party less than whole, fail to achieve the goal
of full compensation, and provide a windfall to the wrongdoer."
from Recovering Lost Profits in International Disputes
36 Georgetown Journal of International Law (Fall 2004) 61-112
Florentino P. Feliciano
biggest potential issue -- he's 83
but this is his only ICSID case at present, 7 prior are concluded.