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Facing more than $40bn in claims over nationalized properties, President Hugo Chávez is planning to pull out of the World Bank's global dispute forum.
If the move occurs, it would follow his recent actions to move 211 tons of gold valued at $11bn and $6bn in cash overseas...to direct Venezuelan control...thus protecting international assets from possible seizure by foreign governments and creditors.
Chavez has nationalized 401 businesses so far in 2011.
Conoco/Phillips is suing Venezuela for $30bn; Exxon/Mobil is seeking $7bn.
Chavez, 57, announced that he would soon undergo another round of chemo...his fourth ...for a still undisclosed cancer.
Also revealed...the next presidential election date...for 7 October 2012.
