Canadian mining company Gold Reserve has filed a $7 billion claim against Venezuela, adding to its previous arbitration efforts for a billion-dollar award.

Gold Reserve, a Canadian mining company, has initiated a significant investment treaty claim against Venezuela, exceeding $7 billion. This claim adds to the ongoing efforts by Gold Reserve to secure a previous billion-dollar arbitration award against the Venezuelan government. The filing reflects the company’s pursuit of compensation for challenges faced in its operations within the country.

In summary, Gold Reserve has escalated its legal actions against Venezuela by filing a new claim worth over $7 billion, continuing its effort to collect on earlier arbitration awards. This case highlights the challenges faced by foreign investors in Venezuela and the complexities involved in international arbitration.

Original Source: globalarbitrationreview.com