Gold Reserve ICSID Arbitration Update

Gold Reserve provides an update about its Request for Arbitration under the Additional Facility Rules of the International Centre for Settlement of Investment Disputes (ICSID) filed in Nov 2009 and  seeking compensation totaling approximately US $2.1 billion.

22 Sep 2014 update: Gold Reserve Awarded $740.3 Million by ICSID for the Expropriation of the Brisas Project by Venezuela

Shortlink: http://wp.me/p27qSt-sN

On July 23, 2014, Gold Reserve Inc. announce that the arbitral tribunal in the World Bank's International Centre for Settlement of Investment Disputes (ICSID) case (Gold Reserve Inc. v. The Bolivarian Republic of Venezuela – Case No. ARB (AF)/09/1) has declared the proceedings closed. Gold Reserve claims damages of approximately $2.1 billion, including interest.

As part of this case, Mehrdad Nazari, Prizma’s Senior ESIA and Sustainability Advisor, was engaged by White & Case LLP to serve as an expert witness on ESIA aspects related to the IFC Performance Standards and Equator Principles.

You can access Gold Reserve recent media release here: Gold Reserve Announces Proceedings in ICSID Arbitration Case with Venezuela Closed by Tribunal

You can read about Prizma's other projects here.

4 Comments to Gold Reserve ICSID Arbitration Update

  1. […] To learn more about Prizma, please access its latest newsletter here (PDF, 501 KB). Articles highlight recent assignments: Biodiversity Management Strategy & Plan for Kumtor Gold Mine; Sustainability Reporting for Lucara Diamond Corp.; Training Community Relations Officers from Mongolia, Turkey and Kyrgyzstan; and Gold Reserve's update about its ICSID Arbitration case. […]

  2. […] by Kinross), and Gold Reserve Inc, an advanced development stage mining company involved in an international arbitration case with Venezuela. Prizma's is currently supporting Centerra Gold with its corporate responsibility reporting […]

  3. […] seen how Equator Principles and IFC Performance Standards are used as benchmarks in the context of international arbitration. You can access Mehrdad’s LinkedIn profile […]

  4. […] seen how Equator Principles and IFC Performance Standards are used as benchmarks in the context of international arbitration. You can access Mehrdad’s LinkedIn profile […]

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