Venezuela Needs To Post Bond In Mining Suit, Court Told

By Jack Newsham

Law360, New York (August 23, 2016, 5:15 PM ET) -- A Canadian gold mining company whose project was confiscated by Venezuela’s government urged a D.C. federal judge on Monday to make the country post a bond while it fights a $1.4 billion arbitration award, saying a recent settlement between Venezuela and another mining company actually shows how little the country can be trusted.

Crystallex International Corp., which is fighting two federal cases to confirm and enforce its award, said Venezuela is in the midst of an economic free-fall and has a track record of not paying...http://www.law360.com/articles/831506/venezuela-needs-to-post-bond-in-mining-suit-court-told