Browse News by Theme

Filtered : Venezuela

• Gas compression plant award against Venezuela’s PdVSA surfaces, as claimant files for enforcement

  Apr 25, 2024

• Venezuela on notice of multi-billion-dollar mining dispute

  Apr 25, 2024

• Three are in place to hear third ICSID arbitration between gold/diamond miner and Venezuela

  Apr 18, 2024

• Delaware court hearing defamation claim concerning 2020 US presidential election orders production of documents from parallel ICSID arbitration against Venezuela

  Apr 12, 2024

• Analysis: In now-public decision, ICSID ad hoc committee rejected bid to annul award that dismissed first Highbury v. Venezuela arbitration for lack of proof of ownership over investment

  Feb 08, 2024

• Analysis: In first Highbury v. Venezuela award, ICSID tribunal declined jurisdiction over multi-million-dollar mining claim, as claimants failed to demonstrate ownership over disputed concessions

  Feb 08, 2024

• Analysis: ICSID ad hoc committee in Vestey v. Venezuela upheld 98 million USD award, seeing no ground to annul tribunal’s exercise of jurisdiction and finding of claimant’s ownership of land

  Jan 24, 2024

• Venezuela’s PdVSA settles arbitrations over Curaçao refinery

  Dec 21, 2023

• UK Court of Appeal confirms that denial of anti-suit injunction against Venezuela based on state immunity does not breach right to justice under the ECHR

  Dec 21, 2023

• US appeals court confirms enforcement of ICSID award against Venezuela, despite committee’s refusal to include Guaido government’s representatives

  Dec 11, 2023

• Revealed: UNCITRAL tribunal in Fernando Fraiz Trapote v. Venezuela found no exceptional circumstances justifying disclosure of claimant’s agreement with third-party funder

  Dec 07, 2023

• Analysis: Blog post and comments against request for disqualification led to removal of Fernandez Rozas from UNCITRAL tribunal in Santamarta v. Venezuela

  Nov 14, 2023

• Kellogg lodges treaty claim against Venezuela

  Nov 10, 2023

• Paris Court of Appeal partially sets aside Serafin García Armas v. Venezuela UNCITRAL award, insofar as compensation for security deposits was related to tax fraud established in Chilean courts; remainder of damages award and revision decision are upheld

  Nov 03, 2023

• Barbados-based real estate investor submits notice of dispute to Venezuela

  Oct 30, 2023

• Analysis: In Air Canada v. Venezuela, ICSID tribunal upheld jurisdiction over treaty claims and awarded 20 million USD in damages for breach of legitimate expectations

  Oct 12, 2023

• Paris court dismisses Venezuela’s bid to set aside treaty-based award in dispute with Canadian airline

  Oct 04, 2023

• Uncovered: In ICC award issued in dispute between Chinese and Venezuelan state-owned companies, tribunal decides to hear claims stemming from 26 contracts in one single arbitration and sees no evidence of corruption, awarding damages for unpaid purchase orders

  Sep 14, 2023

• Analysis: UNCITRAL tribunal in Santamarta v. Venezuela resorts to dominant and effective nationality principle to fill gap in BIT’s definition of investor, ultimately rejecting claim by dual national for lack of jurisdiction

  Aug 03, 2023

• Analysis: In Exxon v. Venezuela resubmission award, ICSID tribunal ponders res judicata effect of previous decisions, and finds that contractual limitation of liability mechanism would have been key in the valuation of damages owed on account of lawful expropriation

  Aug 02, 2023

• UNCITRAL tribunal declines jurisdiction over dual national’s claim against Venezuela, finding that his dominant and effective nationality is Venezuelan

  Jul 31, 2023

• Gold and diamond mining investors bring third ICSID claim against Venezuela

  Jul 22, 2023

• After BIT tribunal declines jurisdiction over his case, Spanish-Venezuelan businessman files claim for expropriation before US courts

  Jul 21, 2023

• Dutch courts halt enforcement of summary judgment against PDVSA subsidiary’s claims that are pending in under-the-radar arbitrations, finding an abuse of rights by Curaçao’s refinery operator

  Jul 17, 2023

• Venezuela Round-Up: A new award, new cases and tribunals, a US appeals court ruling that PdVSA is the state’s alter ego for enforcement purposes, and other arbitration-related developments

  Jul 14, 2023

• Paris Court of Appeal, on remand, dismisses application for set-aside of Serafín García Armas v. Venezuela award; judges reject allegation of procedural fraud and see no prohibition against claims by dual nationals against one of their home states

  Jul 04, 2023

• Dutch courts deny enforcement of OIEG v. Venezuela ICSID award against Dutch and Venezuelan oil companies

  Jun 20, 2023

• Venezuela is involved in an UNCITRAL arbitration over dairy venture

  Jun 12, 2023

• Shortly before leaving office, ICSID Chair rejects request for disqualification of Raul Vinuesa from billion-dollar election technology arbitration against Venezuela

  Jun 01, 2023

• Three are in place to hear glassmakers’ second claim against Venezuela, under ICSID’s Additional Facility Rules

  May 17, 2023

• U.S. District Court rejects Guaidó government’s attempt to block enforcement of 430+ million USD award against Venezuela

  May 16, 2023

• Analysis: ICC tribunal majority dismisses 1.8 billion EUR construction claim against Venezuela and its national railway institute, finding no consent to arbitrate under the 2001 Cooperation Framework Agreement between Italy and Venezuela

  May 12, 2023

• Uncovered: UNCITRAL tribunal in Liberty v. Venezuela (2) finds that investor is entitled to pursue ad hoc UNCITRAL arbitration, as neither ICSID Convention arbitration, nor arbitration under ICSID’s Additional Facility Rules is available under the Spain – Venezuela BIT

  May 09, 2023

• ICSID Additional Facility Rules tribunal stays Liberty v. Venezuela (1) arbitration in deference to jurisdictional ruling by UNCITRAL tribunal in Liberty v. Venezuela (2); decision on discontinuance is pending

  May 09, 2023

• Sale of CITGO shares is poised to move ahead in billion-dollar Crystallex v. Venezuela enforcement action, as US government signals that it won’t oppose the process

  May 01, 2023

• Dutch Supreme Court declines to set aside award that dismissed treaty claim by dual nationals against Venezuela, finding that an award dismissing a case for lack of jurisdiction due to the absence of a valid arbitration agreement cannot be reviewed

  Apr 21, 2023

• Analysis: In recently surfaced decision, ICSID ad hoc committee rejects Venezuela’s attempt to annul a half billion dollar award in favour of two Spanish investors, emphasizing that annulment cannot be used to air arguments that have not been submitted to the tribunal

  Apr 21, 2023

• In Guyana v. Venezuela, ICJ finds that argument based on Monetary Gold principle is not covered by res judicata, but is unconvinced that this principle applies to the case

  Apr 07, 2023

• Election technology company challenges Raul Vinuesa over repeat appointments by Venezuela

  Mar 24, 2023

• Three are in place to hear Dutch oil and gas companies’ second treaty arbitration against Venezuela

  Mar 23, 2023

• Dutch courts issue provisional measures against Venezuela’s PdVSA, despite arbitration clause in underlying contract

  Mar 21, 2023

• Deva Villanua is tapped to chair high-stakes treaty arbitration stemming from electronic voting system dispute with Venezuela; details regarding claim come to light

  Mar 08, 2023

• ICSID annulment committee is in place to hear Venezuela’s bid to overturn billion-dollar award

  Feb 22, 2023

• ICSID committee dismisses requests for reconsideration of previous decisions on stay of enforcement and on Venezuela’s representation

  Feb 17, 2023

• Venezuela signs new BIT with Colombia; while states agree to investor-state arbitration, treaty is characterized by unorthodox drafting and innovative approach to investor protection

  Feb 17, 2023

• Venezuela files for annulment of still-unpublished billion-dollar ICSID award

  Nov 18, 2022

• PCA tribunal awards over 105 million USD in compensation for breach of Barbados-Venezuela BIT

  Nov 16, 2022

• Russian investors are reportedly contemplating billion-dollar ICC claim against Venezuela’s state-owned oil company

  Nov 07, 2022

• Insurance investors lodge ICSID AF claim against Venezuela

  Oct 27, 2022

• Analysis: Dutch Advocate General deems that award declining jurisdiction is in principle reviewable by Dutch courts, but in a more limited fashion than a decision upholding jurisdiction

  Oct 17, 2022

• Dutch advisor recommends upholding UNCITRAL award that declined jurisdiction over dual nationals

  Oct 14, 2022

• New BIT case against Venezuela comes to light, as state successfully challenges claimant’s appointee over activities of law firm colleague

  Oct 13, 2022

• Enforcement proceedings regarding billion-dollar awards against Venezuela and Russia see new developments

  Oct 12, 2022

• Paris Court of Appeal upholds award that had found no consent to UNCITRAL arbitration in Venezuelan BIT

  Sep 29, 2022

• ICSID Chair dismisses bid to disqualify ad hoc committee members in Conoco v. Venezuela case, following recommendation by Ian Binnie

  Sep 28, 2022

• Analysis: Tribunal rules that Maduro government should continue to represent Venezuela in ICSID arbitration, invoking the status quo principle

  Sep 15, 2022

• US court enters default judgment against Venezuela, enforcing 8.5 billion USD award

  Aug 23, 2022

• Annulment proceeding concludes in long-running Venezuela coffee dispute

  Jul 28, 2022

• Foreign investors with long-standing dispute turn anew to arbitration against Venezuela – this time under ICSID’s Additional Facility Rules

  Jul 28, 2022

• Revealed: Clorox v. Venezuela tribunal majority dismisses abuse of process argument after finding that the dispute was not foreseeable when the investor restructured the investment; dissenter sees bad faith in the claimant’s narrative

  Jun 23, 2022

• Venezuela files yet another adjudicator challenge in long-running oil and gas dispute

  Jun 22, 2022

• Swiss Federal Tribunal decision reveals that Clorox v. Venezuela tribunal majority dismissed abuse of rights argument after the case was remanded to it by the judges; ruling withstands set-aside bid

  Jun 16, 2022

• Paris Court of Appeal upholds billion-dollar mining award against Venezuela on remand

  Jun 09, 2022

• Electronic voting system company at center of battle with Fox News and Trump allies lodges treaty claim against Venezuela

  Jun 03, 2022

• Ad hoc committee hearing long-running Conoco v. Venezuela dispute is reconstituted

  Jun 03, 2022

• Hascher-chaired annulment committee issues decision in fertilizer dispute with Venezuela

  May 26, 2022

• Venezuela is facing arbitration over railway construction venture

  Apr 08, 2022

• Analysis: ICC tribunal declines jurisdiction under sui generis cooperation agreement between Italy and Venezuela, emphasizing that consent to international arbitration cannot be presumed

  Apr 06, 2022

• ICSID tribunal awards 1.6 billion USD in compensation for expropriation of investment in Venezuela’s agriculture sector; dissenter would have declined jurisdiction due to manifest inexistence of foreign investment

  Mar 24, 2022

• Arbitrators comings and goings: a new committee, a resignation, and a reconstituted tribunal

  Mar 23, 2022

• Analysis: UNCITRAL tribunal finds that dominant and effective nationality test deriving from law on diplomatic protection should apply given BIT’s silence on claims by dual nationals against one of their home states

  Feb 23, 2022

• ICSID tribunal hearing cardboard manufacturer’s claim against Venezuela is reconstituted

  Feb 09, 2022

• UNCITRAL tribunal declines jurisdiction after finding that claimant was dominantly and effectively a national of the respondent state

  Feb 04, 2022

• ICSID AF tribunal hearing telecoms claim against Venezuela is reconstituted

  Jan 07, 2022

• [Updated with a copy of the Decision] ICSID ad hoc committee dismisses bid for annulment of award against Venezuela

  Jan 04, 2022

• Arbitrators comings and goings: Two resignations and one appointment

  Dec 21, 2021

• ICSID arbitration against Venezuela is discontinued

  Dec 06, 2021

• Three are in place to hear one of two parallel treaty claims against Venezuela

  Nov 19, 2021

• Analysis: GKK-chaired tribunal finds that Venezuela did not consent to arbitration under ICSID’s AF Rules and opines that MFN clauses cannot be used to create jurisdiction

  Nov 15, 2021

• Co-arbitrators dismiss Venezuela’s renewed attempt to disqualify Stephen Drymer from ICSID tribunal

  Nov 11, 2021

• ICSID AF tribunal declines jurisdiction over treaty claim against Venezuela

  Nov 09, 2021

• Venezuela lodges yet another challenge against Stephen Drymer, following the arbitrator’s disqualification and resignation in two other cases against the state

  Oct 22, 2021

• Annulment decision in Tenaris and Talta v. Venezuela (1) surfaces, revealing why ad hoc committee upheld the tribunal’s reasoning on the claimants’ corporate seats, expropriation finding, and choice of a valuation method that had not been submitted by either party

  Oct 13, 2021

• ICSID committee lifts stay of enforcement in high-stakes Conoco v. Venezuela dispute, finding that the investors have provided adequate guarantees against risk of non-recoupment

  Oct 04, 2021

• US declines OFAC authorization for enforcement of billion-dollar award against Venezuela, despite threat of NAFTA claim

  Sep 25, 2021

• Stephen Drymer resigns from ICSID AF arbitration, following his challenge by Venezuela in three treaty-based cases

  Sep 23, 2021

• Tribunal in Air Canada v. Venezuela finds FET and free transfer violations, but awards only a fraction of the damages claimed

  Sep 15, 2021

• Looking Back: High-profile tribunal hearing one of Venezuela’s earliest ICSID cases discussed foreign control requirement, force majeure, lost profit, and compound interest

  Sep 02, 2021

• Co-arbitrators dismiss Venezuela’s challenge to Stephen Drymer in ICSID arbitration

  Aug 25, 2021

• PCA Secretary-General upholds challenge to Stephen Drymer, finding possible asymmetry of information with his co-arbitrators given his participation in parallel ICSID AF arbitration

  Jul 16, 2021

• Venezuela challenges Stephen Drymer in two treaty-based arbitrations

  Jul 14, 2021

• Tribunal is constituted to hear treaty-based insurance dispute with Venezuela

  Jun 14, 2021

• French Cour de cassation resurrects USD 1.6 billion award against Venezuela

  Apr 01, 2021

• Analysis: Tomka-chaired tribunal finds violation of non-impairment standard, but dismisses remaining claims arising out of Venezuelan oil and gas investment

  Feb 24, 2021

• Discriminatory distribution of dividends is found to breach non-impairment standard in long-running dispute over Venezuelan oil investment; remaining claims are dismissed

  Feb 19, 2021

• Dutch Court rejects bid to set aside UNCITRAL award that had declined jurisdiction over dual nationals

  Feb 04, 2021

• Insurance companies lodge ICSID claim against Venezuela

  Nov 05, 2020

• Ad hoc committee in ConocoPhillips v. Venezula lifts stay of enforcement, but asks for guarantees against risk of non-recoupment in light of US sanctions; request to reconsider representation decision is dismissed

  Nov 03, 2020

• ICSID dismisses challenge to Grigera Naon in telecom case against Venezuela

  Oct 28, 2020

• Looking Back: Arbitrators in Fedax v. Venezuela gave an early interpretation of the notion of protected investment under the ICSID Convention

  Oct 13, 2020