Venezuela Will Go To DC Circ. To Fight $1.4B Award
By Chuck Stanley (April 24, 2017, 8:32 PM EDT) -- The Venezuelan government is taking its effort to torpedo a $1.4 billion arbitral award issued to Canadian mining company Crystallex International Corp. to the D.C. Circuit Court, according to a notice of appeal filed Friday.
A district court in March struck down the embattled Andean nation's effort to quash the International Centre for the Settlement of Investment Disputes award, which stems from the revocation of a mining agreement between Crystallex and the government-owned Corporación Venezolana de Guayana, saying there was no evidence a World Bank arbitration panel exceeded its authority in finding revocation of the contract violated a bilateral investment treaty...
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