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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: a litigious world...cases are stacking up against hugo

a litigious world...cases are stacking up against hugo

posted on Dec 07, 2008 04:05AM

guys, i'm curious as to your thoughts on this....

in the last two years more cases (#company's and $amount wise) are being filed with icsid against venezuela than since it's inception....

the mobil&co's, conoco, cemex, etc. etc cases are HUGE! and will be rushed along much faster than vanessa vs. ven.......

hugo has no chance in hell to pay off all these companies (he just does'nt have the money)

so whats his plan? originally i think he may have hoped to form alliances with some non-world bank related co's (good luck) and tell everyone else to pound salt....but i get the feeling now he's just plain out of options....a new president will have to come in, let the big companies back into ven (or take a huge loan from world bank)....but i just dont see how hugo could get out of this unless he did a complete 180 from his policy the last 10 years..... imo ven is going to go real bad, real fast and i'm really not sure what this means for kry....imo if kry can stay solvent the future looks bright (if gold stays up)....but the resolution of LC might take awhile imo....

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Dec 07, 2008 12:03PM
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