The companies Petaquilla Gold, Petaquilla Minerals LTD, and Corporación de Recursos Iberia, S.A. are sueing the Panamanian government for $2.3 billion at the International Centre for Settlement of Investment Disputes (ICSID) of the World Bank for direct damages against the company in Panama and its shareholders, reported Laestrella.com.pa.

See also: "Notice of Cancellation Given to Petaquilla Gold"

"... According to the letter, the government of Ricardo Martinelli, directly or indirectly through local and international economic and financial agents and members of his cabinet, caused damage to investors. Between the period 2009-2014, the Martinelli government hindered by 'arbitrary and discriminatory measures' operations, side operations, expansions and sales of investments in which Spanish investors were involved. "

"... It was emphasized that, in September 2009, Ricardo Quijano, as Minister of Commerce and Industry, 'representing Ricardo Martinelli transmitted to Richard Fifer a verbal order to give up Petaquilla'."

Source: laestrella.com.pa

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