Region: Venezuela

A UK election technology company has failed to disqualify Argentina’s Raúl Vinuesa from hearing its US$1.5 billion ICSID claim against Venezuela over his repeat appointments by the state.

02 June 2023

A US court has confirmed a tortilla maker’s US$430 million ICSID award against Venezuela, rejecting arguments that the interim government of former opposition leader Juan Guaidó was denied due process when it was barred from appearing in annulment proceedings.

23 May 2023

The US government agency that administers economic sanctions has indicated it does not oppose the court-supervised auction of an interest in a US refinery business owned by Venezuela’s national oil and gas company PDVSA to pay the state’s creditors.

02 May 2023

A split ICC tribunal has dismissed a rail consortium’s US$2 billion claim against Venezuela after ruling that an economic cooperation agreement between the state and Italy did not include an offer to arbitrate with investors.

12 April 2023

A UK election technology investor has applied to disqualify arbitrator Raúl Vinuesa from hearing a US$1.5 billion ICSID claim against Venezuela, alleging that his repeat appointments by the state raise doubts about his impartiality.

23 March 2023

An UNCITRAL tribunal has ordered Venezuela to pay US$105 million to a Barbadian subsidiary of Occidental Petroleum after finding the state liable for discriminatory conduct in its payment of dividends from an oil and gas venture. 

18 November 2022

UPDATED: Executives at a Dutch company say they are considering potential arbitration claims worth billions of dollars against PDVSA after the Venezuelan state entity expropriated their interest in a joint venture.  

08 November 2022

Venezuela has successfully challenged Wolfgang Peter as arbitrator in an investment treaty case after raising concerns he could be influenced by the views of his Peter & Kim colleague Pierre Tercier in a similar dispute.

12 October 2022

The Paris Court of Appeal has refused to resurrect a US$600 million BIT claim brought by two real estate investors against Venezuela, ruling the arbitrators were right to find the treaty’s offer of UNCITRAL arbitration was “obsolete”.

03 October 2022

Venezuela has failed to disqualify two members of an ICSID committee hearing its bid to overturn a US$9 billion award won by ConocoPhillips, after Ian Binnie KC found no substance to allegations that the pair and the proceeding as a whole had been “corrupted” by departing panellist Kevin Kim.

28 September 2022