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In the VVV arbitration, this occurred twice. The first caused a 6 month delay. The second caused an 11 month delay.
It seems more likely that ICSID, in the GRZ case, will issue a combined ruling on merits and damages. On July 25, 2012, six months after the hearing was held, the Tribunal issued a procedural order requesting further testimony from Gold Reserve’s and Venezuela’s experts on quantum issues. If the contemplated ruling was going to be bifurcated, why would there be any need to address the quantum issues before a ruling on the merits?
This dumbass Rafael Ramirez obviously fails to understand that he no longer has any choice in the matter. He has no power to "reject" the award. I guess VZ should have thought about that before they decided to start stealing entire industries. Now, with the full force of international law behind them, the oil companies will simply seize VZ's assets and there is nothing Ramirez can do about it. I look forward to Kry's ability to do the same.
Don't forget the absurd amount of interest that is accruing. Also there are 411 million fully diluted common shares.