https://www.smithsonianmag.com/smithsonian-institution/bringing-taino-peoples-back-history-180967637/

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Canadian miner Crystallex secures (small) payout from Venezuela Share on Twitter (opens new window) Share on Facebook (opens new window) Share on LinkedIn (opens new window) Save Save to myFT Jonathan Wheatley in London APRIL 12, 2018 Print this page So you can get your money out of Venezuela after all — or at least part of it. Crystallex, the Canadian gold miner that was awarded $1.4bn by the World Bank two years ago for the expropriation of its Venezuelan business in 2008, has finally got hold of a tiny part of its money. The amount is at most $43m and probably rather less. And it makes only a small hole in the legal fees that Cyrstallex has racked up during the fight for its cash. The FT revealed last November that Crystallex had reached an agreement with Caracas to settle its claim, for an undisclosed sum believed to be in excess of $1bn. It was due to begin receiving its money in monthly installments. Court documents suggest Crystallex believes it has been paid small amounts into a bank account in Venezuela but there is no indication that it has got any money out of the country. But as a result of multiple efforts to seize Venezuelan assets outside the country, it has finally struck a small amount of gold. The $43m is what remains of a trust account held by BNY Mellon on behalf of Ingalls Shipbuilding of Pascagoula, Mississippi, which has been in dispute with Venezuela’s defence ministry for two decades over work it carried out on a couple of frigates. Crystallex has succeeded in making a prior claim over that money, and reached an agreement with Ingalls to release the funds. According to court documents filed last week and seen by the FT, to US District Courts in the Southern District of New York and the Southern District of Mississippi, BNY Mellon will receive fees of $428,429 and the remaining $43.2m in the account will go to Crystallex, with an undisclosed amount to be shared with Ingalls. Crystallex remains deeply in debt to its lawyers, and Crystallex shareholders are no closer to seeing any money than they were when the company began suing in 2011. But it’s a start.