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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: Hugo's new trend

Hugo is screwed on his bilateral treaties

posted on May 31, 2008 01:01PM

The Dutch treaty, like the Canadian bilateral investment treaty, has a 15 year tail -- that is if the treaty is terminated, its provisions last for another fifteen years so Hugo's efforts are way too little and way too late.

In reality, the Canadian treaty is very similar to the Dutch treaty and provides very strong and specific remedies for violations. Not that I expect a legal result here, as I think politics with trump, but under the Canadian bilateral treaty Crystallex could seek the net present value of the MOA less expenses not incurred (like the cost of not having to actually build a mine) and would be on very strong legal ground.

I posted a link in the Link Library for anyone interested in looking over the Canadian-Venezuelan treary.



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