Re: GRZ
Has anyone heard anything regarding GRZ and the court date 11-3-15 in Paris. The following is from a 6/18/15 update announcement that GRZ had put out. Its on their website.
Gold Reserve’s President Doug Belanger stated: “We have already addressed the arguments raised byVenezuela in the context of its applications to annul
the Award that will be heard by the Paris Court of Appeal on November 3, 2015 and, therefore, we are confident that they lack merits and that the Company will prevail, as it always has, since the inception of the
arbitration proceedings. As for the request to stay enforcement pending the outcome of the proceedings before the Paris Court of Appeal, we strongly
believe that the fact that the Paris Court of Appeal refused, last January, that very same request by Venezuela will weigh in favor of the District Court
refusing to order a stay. Moreover, the New York Convention, which applies to these proceedings, provides that the court may order that suitable security
be given by Venezuela as a condition for the stay, so, in any event, Venezuela should not be able to escape its obligation to pay.
