The International Center for Settlement of Investment Disputes has advised Crystallex International Corp. that proceedings in its $3.8 billion case against Venezuela for nationalizng gold-mining assets has begun.
The president of the tribunal considering the case is Laurent Levy, a Swiss and Brazilian national. Also on the panel are Florentino P. Feliciano, a judge in the Philippines, and John Gotanda, dean of the law school at Villanova University in Philadelphia, the company said Friday.
The Toronto-based company's main asset is its interest in the Las Cristinas gold project located in Sifontes Municipality, Bolivar State, Venezuela.
Crystallex also holds interests in the Tomi and La Victoria mines in Venezuela.
Meanwhile, the Toronto Stock Exchange informed Crystallex it was beginning a review of the company that could result in delisting from the bourse. Crystallex was delisted from the New York Stock Exchange this year.