Gold Reserve ICSID Arbitration Update

On July 23, 2014, Gold Reserve Inc. announced that the arbitral tribunal in the International Centre for Settlement of Investment Disputes (ICSID) case 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.

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-EL

3 Comments to Gold Reserve ICSID Arbitration Update

  1. […] Equator Banks and practitioners, such ESIA consultants, Independent Engineers, expert witnesses in international arbitration, and assurance providers. It also highlights the new complexities of the expanded – but qualified – […]

  2. […] deliver training on IFC Performance Standards and Equator Principles, have  contributed to international arbitration. Visit and subscribe to Prizma’s blog for occasional updates about our […]

  3. […] The oil, gas and mining sector registered the highest case load (26%), including one to which Prizma contributed, followed by electric power and other energy (14%). The geographical distribution of all ICSID […]

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