Re: order/Not the Company's fault
in response to
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posted on
Oct 26, 2012 10:57AM
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
Here is the award plus interest. The tribunal orders ecuador to pay...
Claimants’ damages for the expropriation by Ecuador of their interest in the Participation Contract amount to US$ 1,769,625,000 (US One billion, seven hundred sixty nine millions, six hundred twenty five thousand dollars) 174
(vi) Ecuador is ordered to pay pre-award interest on the above amount at the rate of 4.188% per annum, compounded annually from 16 May 2006 until the date of this Award; (vii) Ecuador is ordered to pay post-award interest from the date of this Award at the U.S. 6 month LIBOR rate, compounded on a monthly basis; and (viii) Ecuador’s counterclaims, except that counterclaim specified in subparagraph (iv) above, are dismissed; and (ix) Each Party is ordered to bear its own costs of the proceedings and the Claimants and the Respondent are ordered and mandated each to pay half of ICSID’s and the Tribunal’s costs of and incidental to the proceedings.