Flughafen Zurich and Gestion e Ingeneria IDC v. Venezuela

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Case Details

Year of Filing: 2010

Case Status: Annulment Concluded

Claimant(s): Flughafen Zurich A.G. and Gestion e Ingeneria IDC S.A.

Respondent(s): Bolivarian Republic of Venezuela

Arbitral Rules: ICSID

Legal Instrument: Treaty

Treaty: Switzerland-Venezuela BIT

Administrative Case Number: ARB/10/19

Arbitral Tribunal

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Major Developments

Key Decision:

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Counsel

Counsel for Claimant:

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Counsel for Respondent:

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ANALYSIS: Flughafen v. Venezuela decision reveals reasons why ICSID ad-hoc committee spared award from annulment May 17, 2019

Annulment committees weigh in with decisions on a pair of awards against Venezuela Apr 30, 2019

Guatemalan lawyer survives disqualification attempt in ICSID case, as two more similar challenges remain pending Feb 20, 2018

Venezuela seeks to remove ad-hoc committee member, citing public comments about the country Dec 22, 2017

ANALYSIS: as Venezuela’s ICSID debts hits $4.6 billion (before interest), two ad hoc committees offer differing approaches to requests that stays of enforcement be lifted Apr 21, 2016

ICSID names six to hear two efforts by Venezuela to annul unfavourable arbitral awards Sep 16, 2015

Flughafen v. Venezuela: arbitrators consider effect of political risk on projected cash-flows – and jurisdiction over joint claims and (partly) state-owned investor Nov 28, 2014

In-Depth: Venezuelan courts work properly to correct administrative decisions, but Supreme Court’s flawed actions trigger liability Nov 28, 2014

In a rare finding, Venezuela is held liable not only for expropriating foreign-owned airport – but for a denial of justice by its highest court Nov 23, 2014

Arbitrators weigh disqualification of Venezuela’s damages expert, but decide his earlier contacts with claimant don’t warrant it Sep 16, 2012

ICSID panels convened in disputes over Uruguay’s tobacco policies, Venezuelan airport concession, Polish health-care venture, and Hungarian energy investment Mar 30, 2011

ICSID Docket Round-Up: New Claim against Venezuela; Tribunals appointed in Mexico and Grenada cases; Cases against Yemen and Romania are discontinued Aug 28, 2010