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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: grz's case

It is up to the tribunal to decide on the juristriction question, so until the members have been appointed and approved, nothing happens. You can be sure that juristriction will be one of the first issues raised once the formalities are completed and the papers filed, but like all legal cases, it takes a while. Venezuela will submit a motion challenging the right of the ICSID to adjudicate on the issue. Crystallex will be given a couple of months to respond and then, if the panel feels that the Venezuelan submission has any possible grounds of success, they will schedule a hearing on that issue alone. If the panel feels that it is just a delaying tactic, they will do as they did in the GRZ case, and join it with the merits in one sitting.

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