RE:RE:Notgnuroberto146 wrote: Symbiotic;
ICSID did not expropriate land, mines, or minerals from a sovereign government, i.e.Vz, but made an award of money to compensate a corporation whose assets were confiscated in contradiction to officially signed agreements of joint-venture with the government as well as international law and custom. The decision has nothing to do with sovereignty and all of the confiscated properties remain the property of the state of Vz, and not in dispute except for payment of money to satisfy the judgement.
The change of government is a separate matter, and definitely should be up to the people and institutions of the country itself.
You have comingled many observations in your comment but I will just respond to the first two.
Yes. It matters not whether a settlement is paid out or mines are given back or (more likely IMO) a combination of the two is arranged in a new trial.
anuary 30, 2019
Paris Court of Appeals Decision on Award
Vancouver, Canada -- Rusoro Mining Ltd. (the "Company" or "Rusoro") announces that, in a decision dated 29 January 2019 (the "French Court Decision"), the Paris Court of Appeals partially annulled the arbitral award (the "Award") issued in favour of the Company in August 2016 by a tribunal constituted pursuant to the Canada-Venezuela bilateral investment treaty (the "Treaty") and the rules of the Additional Facility of the International Centre for Settlement of Investment Disputes. Whilst the Paris Court of Appeals upheld the tribunal's finding on the merits that Venezuela is liable for the unlawful expropriation of Rusoro's investments, it annulled the Award's finding on damages. The French Court Decision does not seek to determine the damages that Venezuela must pay to Rusoro for its breach of the Treaty.
Rusoro intends to vigorously pursue all available remedies to reinstate the Award's finding on damages in full or otherwise obtain fair compensation for the unlawful expropriation of its investments in Venezuela, including the appeal of the French Court Decision before the French Supreme Court and (if necessary) the resubmission of the case to arbitration to re-determine the amount of damages owed to Rusoro.
Rusoro confirms that the French Court Decision does not impact Venezuela's obligation to pay Rusoro at least US$100 million as partial payment for the expropriated investments under the Agreement executed between them in October 2018.
ON BEHALF OF THE BOARD
"Andre Agapov"
Andre Agapov, President & CEO