- Posted April 25, 2014 by
2 Costa Rican Davids vs 1 Canadian Goliath (Infinito Gold).
Toronto, Canada. Details regarding Infinito Gold Mining Co. (IG) ICSID Arbitration Case against the Republic of Costa Rica (CR) emerge today. A confidential source revealed that 2 Costa Rican lawyers identified as Dr. Enrique Rojas and Max Esquivel were mainly responsible for dissuading the gold company to quit their intentions to sue CR for US$ I Billion in lost profits in relation to the Crucitas Gold Mining Project. Apparently, IG’s minority shareholders remained speechless when Torys LLP (IG’s legal advisors) finally filed the request for arbitration before the ICSID Secretariat last February. The request showed a huge drop down to US$94 million in damages (investment made) plus interest and legal fees.
But, how do these local lawyers accomplished that?
It seems that both specialists met with IG’s executives in CR last year and claimed to have in their possession a highly elaborated legal assessment containing previously undisclosed evidence that would certainly wipe out IG’s billion dollar threat and urged the company to scale down its legal strategy in order to pursue a claim for damages alone.
Until now, both their identities and relation to this issue were kept anonymous and low profile.