Re: Exxon Wins $749M for Nationalized Venezuela / Paying only $255-million
posted on
Jan 02, 2012 06:36PM
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
"The ruling appears to back Venezuela's position that companies whose assets are nationalized should be compensated for the amount invested - sometimes called book value - rather than the market value the assets might fetch if sold."
well this totally sucks, was really hoping for Chavez to pay for his action, very demoralizing
Exxon is thought to have the best inhouse legal team in the world, hope there is a better outcome from case at the World Bank tribunal