• Canadian mining company threatens Romania with 4 billion dollar lawsuit
    5 replies, posted
[quote]Canada’s Gabriel Resources Ltd. is issuing a stern ultimatum to the Romanian government: Approve the Rosia Montana gold mine or face a lawsuit for billions of dollars. The strategy marks a stunning reversal for the Toronto Stock Exchange-listed company, which until recently had expected the government would approve a draft law that would allow the $1-billion (U.S.) mining development in Romania’s Transylvania to go ahead. Then, on Monday, Romanian Prime Minister Victor Ponta said parliament would likely reject the draft law, a move that would kill Europe’s largest gold project. Gabriel shares went into freefall. The same day, Gabriel said it would “assess all possible actions open to it, including the formal notification of its intentions to commence litigation for multiple breaches of international investment treaties.” On Wednesday, Gabriel chief executive officer Jonathan Henry vowed that the legal action would go ahead if the government does kill the mining project, and attached a big number to it. [B]“If the lower house [of parliament] does reject the project, we will go ahead with formal notification to commence litigation for multiple breaches of international investment treaties for up to $4-billion,” Mr. Henry said in a phone interview. “Our case is very strong and we will make it very public that Romania’s effort to attract foreign investment will suffer greatly.”[/quote] [/B][URL]http://m.theglobeandmail.com/report-on-business/international-business/european-business/gabriel-resources-ceo-vows-to-sue-if-romania-kills-europes-biggest-gold-mine/article14240950/?service=mobile[/URL] Hope their stocks plummet after this. If you have no idea what all this is about, go here: [URL]http://facepunch.com/showthread.php?t=1306138&highlight=[/URL]
can you even sue an entire country
[QUOTE=Untouch;42164560]can you even sue an entire country[/QUOTE]You can sue the government, which is functionally the same thing.
Uhh... how is this a very strong case.
Yeah, because what Romania needs right now is more scandals.
[QUOTE=thelurker1234;42164839]Uhh... how is this a very strong case.[/QUOTE] Most likely they're just talking shit to try and scare our government, but who knows. Anyways, the project is sure to fail the vote in the Parliament. It already wasn't approved by the Minister of the Environment and also the Senate. The Prime Minister also is against it now. But even if they win and we'll have to pay reparations, it's worth it for not selling out our natural resources for nothing and destroying nature in the process.
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