Canada Enforces $1.4B Crystallex Award Against Venezuela

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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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Canada Enforces $1.4B Crystallex Award Against Venezuela

posted on Jul 28, 2016 07:51AM

Law360, New York (July 27, 2016, 8:22 PM ET) -- Crystallex International Corp. won another battle in its feud with Venezuela over a canceled gold mining project, after the Ontario Superior Court of Justice recently recognized and enforced the $1.39 billion arbitral award the company won in April from a World Bank tribunal.

In a July 20 order, Justice Glenn A. Hainey said that he agreed to recognize and enforce the award during a July 11 hearing, in which Venezuela did not participate, after finding that Crystallex met all the necessary criteria and showed that enforcing...

http://www.law360.com/articles/822042/canada-enforces-1-4b-crystallex-award-against-venezuela