Crystallix v. Venezuela arbitration event
also: billion-dollar triumph, Crystilex case, ICSID's arbitration order, legal victory, lawsuit
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Related entities (most co-mentioned)
Crystallixorganization · 18Citgo Petroleumorganization · 8Jose Ignacio Hernandezperson · 6United Statescountry · 4International Centre for Settlement of Investment Disputesorganization · 42002 Venezuelan coup attemptevent · 3Delawarecountry · 3Carlos Vecchioperson · 1José Rodríguezperson · 1ExxonMobilorganization · 1Canadacountry · 1Anyaperson · 1PDVSAorganization · 1
Claims (5)
Venezuela funded
Crystallix v. Venezuela arbitration documented
“Cristillex initiated arbitration against Venezuelan's government in February 2011, asserting Caracas owed $3.16 billion plus interest for ex-appropriating a mine they didn't own. They had a concession that was canceled and they had never mi…”
▶ The Colonels Corner-Corporate Coup (Venezuela) Part 13 @ 41:37
International Centre for Settlement of Investment Disputes funded
Crystallix v. Venezuela arbitration documented
“And no one else is allowed to mine it, not even the country. So they can starve to death with, I don't know, do the math. 20 million ounces of gold at 550 ounces apiece in the ground. They're not allowed to touch. This is ludicrous. So to n…”
▶ The Colonels Corner-Corporate Coup (Venezuela) Part 13 @ 42:38
Delaware funded
Crystallix v. Venezuela arbitration documented
“remained from public view. By the time Anya began investigating the Crystilex case in August of 2019, Sitco's survival was officially on the line. The previous month, a Delaware court had authorized Crystilex to seize the $1.2 billion worth…”
▶ The Colonels Corner-Corporate Coup (Venezuela) Part 13 @ 50:14
Jose Ignacio Hernandez spied_on
Crystallix v. Venezuela arbitration host_asserted
“In other words, Hernandez had provided material support for a lawsuit filed against the very government whose legal strategy he would go on to direct in the fake government. So he's an opposing witness while pretending to be a part of the f…”
▶ The Colonels Corner-Corporate Coup (Venezuela) Part 13 @ 46:09
Jose Ignacio Hernandez covered_up
Crystallix v. Venezuela arbitration guest_asserted
“that in early months of 2019, he warned Venezuela lawmakers about the conduct of Guaido's officials. Above all, he listed Jose Inacio Hernandez on matters related to the Cristilex case. According to Rodriguez, throughout that time, Hernande…”
▶ The Colonels Corner-Corporate Coup (Venezuela) Part 13 @ 47:45
Mentions (18)
▶ 37:12
At the time, valued at $550 an ounce. When Venezuela's government rejected the final approval for the project in 2008 and proceeded to cancel the contract altogether three years later, Cristelex took Caracas to court. The multinational corp…
▶ 41:37
Cristillex initiated arbitration against Venezuelan's government in February 2011, asserting Caracas owed $3.16 billion plus interest for ex-appropriating a mine they didn't own. They had a concession that was canceled and they had never mi…
▶ 42:38
And no one else is allowed to mine it, not even the country. So they can starve to death with, I don't know, do the math. 20 million ounces of gold at 550 ounces apiece in the ground. They're not allowed to touch. This is ludicrous. So to n…
▶ 43:12
billion plus interest, declaring Caracas's decision to nationalize the gold mine, which literally consisted of tearing up a piece of paper, was for purely political reasons. When Venezuela's government failed to comply with the decision, Cr…
▶ 45:11
Hernandez's name first made national headlines in July 2019, days after a U.S. court ruled that Crystilex could collect upon the 2016 ICSID award by seizing shares belonging to Sitco Petroleum, a completely separate company. It was a U.S.-b…
▶ 45:42
private subsidiary of Venezuelan state oil company. Following the ruling, news reports revealed that before Hernandez took over as Guaido's top prosecutor, fake, he had served as an expert witness in the Criscax case for opposing Venezuela'…
▶ 47:45
that in early months of 2019, he warned Venezuela lawmakers about the conduct of Guaido's officials. Above all, he listed Jose Inacio Hernandez on matters related to the Cristilex case. According to Rodriguez, throughout that time, Hernande…
▶ 48:16
A ruling that placed Sitco, Venezuela's most valuable international asset, on the verge of liquidation. For those of us in the U.S., Sitco was just another gas station. For Venezuelans, however, the company was a national pride. Venezuelan …
▶ 50:14
remained from public view. By the time Anya began investigating the Crystilex case in August of 2019, Sitco's survival was officially on the line. The previous month, a Delaware court had authorized Crystilex to seize the $1.2 billion worth…
▶ 51:42
Though ICSID ordered Venezuela's government to pay Cristilex $1.2 billion in April of 2016, the firm's ability to collect that debt was constrained due to a legal concept called limited liability. A claimant like Cristilex could not foreclo…
▶ 56:41
On July 29th, 2019, a U.S. district court in Delaware ruled in favor of Kristillek's alter ego argument, legitimizing the Canadian corporation's claim to $1.2 billion in Sitco assets. Two days later, Venezuelan government announced a crimin…
▶ 57:42
a television station in Miami sporting an unkept beard and dismissed the accusations against him as false and asserted that by the time he entered the shadow government, the Christelix case was in its final stages, which is a flat out lie. …
▶ 58:10
that crafted the legal strategy of the Chrysillics case. They weren't allowed to participate. While that claim, Hernando's version of the events overlooked several facts presented before the court. On April 10, 2019, Chrysillics submitted a…
▶ 1:01:52
When my name started to float as attorney general, I spoke with Ambassador Carlos Vecchio. I prepared him a memo, but you don't work for him. You're the attorney general of a fake president that you actually work for, not his ambassador. As…
▶ 1:05:00
As you listen to this, I'll say this much at this point. The Sitco situation still hasn't been resolved. That's still in court, for one. But it is amazing to me how you can take one item and tie that, specifically Chris Licks, and tie it to…
▶ 1:05:55
Had been violated and did nothing to resolve that fact, which is why we're at where we're at. Correct. So the illegitimate government violates their own law. And even there still was no there's no law in the United States that says that you…
▶ 1:06:26
What they did was say that Sitco, through this sleight of hands, had been used politically by Chavez, and therefore they were able to sever that and then lien Sitco assets for a completely separate lawsuit, which literally had nothing to do…
▶ 1:06:56
with Crystalix. It's a gold mine that never existed. And you have an oil company that the only way they were able to violate that bail was to do something illegally. And then a Delaware court awarded Crystalix access to a completely separat…