Rusoro Mining Retains Enforcement Specialists
TSX VENTURE: RML
VANCOUVER, Sept. 7, 2017 /CNW/ - Rusoro Mining Ltd. (the "Company" or "Rusoro") announces that it has engaged King & Spalding LLP, a leading U.S.-based law firm recognized for its expertise in the enforcement of international arbitration awards and experience resolving large international disputes, to lead the Company's effort to enforce its US$1.2 billion award issued on August 22, 2016 by the Arbitration Tribunal operating under the Additional Facility Rules of the World Bank's International Centre for the Settlement of Investment Disputes in the arbitration brought by Rusoro against the Bolivarian Republic of Venezuela. Rusoro also announces that it has engaged a leading international investigations firm to identify Venezuelan government assets that may be seized in aid of the award, which Venezuela has refused to pay voluntarily.
Andre Agapov, CEO of Rusoro, stated "we are still very much committed to a mutually beneficial resolution of this matter but, our Standstill with Venezuela has expired and we can no longer wait for an acceptable offer."