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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: While venezuelans Starve

Talking about paying arbitration awards with the corrupcion money held abroad...

The New York Convention makes and ICSID award valid in all the countries that signed it. Any organization seeking to collect an award needs only register the award with the appropriate court in the country where the money is frozen by money laundering investigations and then get an attachment order. Recovered corruption money is the property of the state where the money was taken from. And even money in the hands of people suspected to be corruption laundered money can be attached.  

In the U.K. and its territories, the decision in TSB Private Bank International v Chabra [1992] 1 WLR 231 established that, in certain circumstances, the courts have jurisdiction to grant freezing orders against not only parties to a cause of action but also third parties. This precedent may be used accross the EU as long as the U.K. is part of it.

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