sancab:

 

Exxon won a judgement of $900 million (not at the ICSID) The $200 million you are referring to represents the net payment after deducting the value of Vz assets frozen by the courts and an amount allegedly owed to Venezuela by Exxon. Infinito has neither of these issues affecting a monetary award. I read through the written decision regarding the jurisdiction hearing. The ICSID dismissed all Vz's objections exept one, which was joined to the merits of the case. In my opinion that objection which basically says that the Pacer Dome did not have the right to transfer / sell its stake in MINCA to Vannessa  ---therefore--- the transfer / sale is illegal ---- therefore ----the ICSID has no jurisdiction over the dispute, THAT is Vz's case in a nutshell. When the ICSID rules that the sale met all the requirments of the MINCA rules, then what remains is HOW MUCH COMPENSATION will Infinito receive. Placer Dome offered its stake in MINCA to the CVG, as per the MINCA rules. they refused. Placer Dome was then free to offer its stake to Vannessa. General Rangel Gomez did not like that idea and after the sale to Vannessa was completed he sent in his "goons" to seize the property. Where would you put your money in a LEGALBATTLE, with Placer Dome's lawyers or the General?

Sancab:

Re Costa Rica

Its unfotunate that we (Infinito) find ourselves in this situation, but it is what it is. Infinito I'm sure will be taking every precaution to ensure that when an ICSID submission is presented, it will be correct, concise and legal. Hence the frustration that you and I are experiencing.