Crystallex International

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Re: time to sue roy

over 13 years ago

in response to EZ Street's message

CLAUSE NINETEENTH

SOLUTION OF CONFLICTS

The doubts and controversies of any nature that could arise from the execution of this Contract and that may not be resolved in an amicable manner by the Parties, shall be decided by the competent tribunals of the Bolivarian Republic of Venezuela, in accordance to its laws, and they may not give origin to reclamations before foreign tribunals.

The above outlined section eliminated this part of clause nineteen from the contracts at first reading. There isn't a competent anything in the Bolivarian Republic of Venezuela."

Sorry, EZ - I don't understand your point. The outlined section eliminated the section at first reading?

If section 19 includes your highlighted part, then it appears to me that the inetention of the parties was that international arbitration is a no go. However, that doesn't mean that Int'l Arb can't be used - but simply that first you have to make the case that you can go to Int'l Arb.