Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Company”) reports on recent developments in the United States in relation to its collection efforts of the US $740 million arbitral award dated September 22, 2014 (the “Award”) rendered against the Bolivarian Republic of Venezuela (“Venezuela”). On November 26 [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Companyâ€) is pleased to report on recent developments occurring in the Paris Court of Appeal in relation to Venezuela’s attempt to annul the US $740 million arbitral award dated September 22, 2014 (the “Awardâ€), rendered in the Company’s favor. Annulment Proceedings before the Paris Court of Appeal Venezuela has filed its case with the Paris Court of Appeal to annul or set aside the September 22, 2014, ICSID Award, arguing, amongst other things, that the Tribunal lacked jurisdiction, violated its fundamental procedu... [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Companyâ€) is pleased to report that Venezuela has agreed to accept service of Gold Reserve’s Petition, filed in the District Court of the District of Columbia, to confirm the US $ 740 million ICSID award dated September 22, 2014 (the “Awardâ€). Venezuela has further agreed to respond to the Petition to Confirm the Award within sixty (60) days of the agreed service date, i.e., on or before June 12, 2015 and Gold Reserve has agreed to vacate the clerk’s entry of default entered on March 27, 2015 against Venezuela. The foregoing agre... [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Companyâ€) is pleased to report on recent developments occurring in Luxembourg in relation to its collection efforts of the US $740 million arbitral award dated September 22, 2014 (the “Awardâ€) rendered against the Bolivarian Republic of Venezuela (“Venezuelaâ€). Luxembourg Asset Seizure Activities Following the granting of the exequatur (described below), the Company served on various Luxembourg banks, and on several occasions with the latest being April 13, 2015, the equivalent of writs of garnishment relating to over US $7... [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Companyâ€) is pleased to report on developments in the proceedings instituted in the U.S. District Court for the District of Columbia to confirm the US $740 million arbitral award dated September 22, 2014 (the “Awardâ€), rendered against the Bolivarian Republic of Venezuela (“Venezuelaâ€). On March 27, 2015, the Court entered a default against Venezuela following its failure to file an appearance within the prescribed deadlines in the proceedings instituted by the Company. Legal History Leading up to the Default On November 26... [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the Company) today announced that the Board of Directors has appointed Kenneth I. Juster as a director of the Company. Mr. Juster has over 30 years of experience as a senior business executive, senior law partner with international arbitration and execution of award experience, and senior U.S [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the Company) is pleased to report that following the January 8, 2015, hearing held before the Paris Court of Appeal, the Court today has granted the Companys request for the exequatur, or recognition, of the Companys ICSID Award as a judgment of the Court. The Court dismissed the Republic of [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the Company) is pleased to report that a hearing was held today at the Paris Court of Appeal regarding the Companys request for the exequatur, or recognition of the Companys ICSID Award as a judgment of the Court. The Court is expected to issue its judgment on January 29, 2015. Should exequatur be [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the Company) reports that, on December 15, 2014, the Tribunal in the International Centre for Settlement of Investment Disputes (ICSID) arbitration (Gold Reserve Inc. v. Bolivarian Republic of Venezuela, ICSID Case No. ARB(AF)/09/1) denied both parties requests for correction of the Award and [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the Company), reports that on November 26, 2014 it filed, in the US District Court for the District of Columbia (DDC), a petition to confirm the US$ 713 million Award (the Award) plus costs dated September 22, 2014 in the arbitration before the World Banks International Centre for Settlement of [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the Company) reports a number of developments since the issuance of the final Award on September 22, 2014, in the arbitration before the World Banks International Centre for Settlement of Investment Disputes (ICSID) against the Republic of Venezuela relating to the Brisas Project. After the [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) is pleased to announce that the three-member Tribunal at the World Banks International Center for the Settlement of Investment Disputes (ICSID) has awarded the Company $740.3 million in accordance with the provisions of the CanadaVenezuela Bilateral Investment Treaty (BIT). The Award represents [...]