Re: Venezuela: ConocoPhillips Closer to Seizing CITGO Shares over Massive Award
posted on
Dec 26, 2023 10:47AM
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
GRZ is in a good position here. They are at Step 5 of seven and are in the original elite Group of Six creditors in the Crystallex case.
Unless something unexpected happens, they stand to get $1.024 billion USD as a result of their original ICSID case plus interest. There is no starting over for this.
Separate of that, there was a second expropriation when VZ bamboozled them into the JV and uniterally and illegally nullified that agreement. To my knowledge there is no new litigation for part but the original ICSID mentioned above is signed and sealed. Just waiting on delivery.