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Invocation of principles of prescriptive jurisdiction and adjudicatory committee touches on novel issues not appropriate for resolution in Rule 41(5) proceedings
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Objection that dispute is not ripe for resolution requires further submissions
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Waiting period objection requires examination of facts and legal arguments
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Brevity is virtue in Rule 41(5) decisions
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Challenge to committee member was dismissed and Venezuela made to bear costs
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Past committees erred in scrutinising Kaufmann-Kohler’s alleged partiality
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Venezuela’s annulment grounds
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Fundamental departure must be serious – meaning it must have had an impact on the award’s outcome
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“Administrative imperfection” regarding award’s signature is not serious enough
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“Well motivated” award means committee struggle to see alleged contradictions
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Committee cannot revisit merits of award
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Alleged partiality fails to persuade on facts
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Kompetenz-Kompetenz means underlying tribunal’s views on jurisdiction are entitled to deference
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Annulment not proper route to argue that arbitrator should have been disqualified
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Venezuela’s risk of non-recovery – if award were to be paid, but later struck down – is deemed to be negligible in both cases
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Evidence marshaled by investor regarding the risk of Venezuela’s non-compliance convinces the OI committee to lift stay
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Burden of proof is placed on Venezuela in order to justify keeping stays of enforcement in place
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