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Venezuela

Colombia, Venezuela revive trade deal after 4-year suspension
17-Feb-2023 France 24
The leaders of Colombia and Venezuela on Thursday renewed a trade deal that had been suspended for four years, in the latest rapprochement between the neighbors.
US glass maker seeks to seize Venezuela-owned oil tanker to collect award, court papers show
6-Aug-2020 Reuters
US glass manufacturer O-I Glass Inc is seeking to seize an oil tanker owned by Venezuela to collect part of a $500 million arbitration award it won.
Trade development agreement between Venezuela and Turkey becomes effective August 21
8-Jul-2020 MercoPress
A new trade deal between Turkey and Venezuela, officially titled “Trade Development Agreement,” will enter into force on August 21.
International arbitration for Banco del Orinoco
7-Oct-2019 The Daily Herald
Bank of Orinoco has initiated an international arbitration against the Netherlands over alleged discriminatory and irrational measures by the government of Curaçao.
Venezuela’s Guaido to seek to annul $8.7 bln Conoco award
17-Apr-2019 Reuters
Guaido’s special prosecutor said has challenged the amount of the ICSID award, claiming “the methodology to determine the compensation was errant.”
Venezuela’s Guaido to appeal $8.75 billion ConocoPhillips award
15-Mar-2019 Bloomberg
Venezuela’s opposition leader and self-proclaimed president Juan Guaido plans to appeal a $8.75 billion award issued to ConocoPhillips by the World Bank’s arbitration tribunal last week.
Venezuela must pay Conoco over $8 billion: World Bank
9-Mar-2019 Reuters
Venezuela must pay ConocoPhillips more than $8 billion to compensate for the 2007 expropriation of oil assets by the country’s late socialist leader Hugo Chavez, the World Bank ruled.
Want to sue Venezuela for millions? These firms can help, for a price
21-Dec-2018 Reuters
Investment funds backing a slew of big-dollar corporate lawsuits has boomed over the past decade, fueled by favorable court rulings and investors seeking juicy returns.
Venezuela pays miner $425 million in move to safeguard Citgo
27-Nov-2018 Bloomberg
Venezuela made an partial payment of a settlement designed to resolve a $1.2 billion arbitration award to a bankrupt Canadian gold miner that’s laying claim to the assets of the parent of refiner Citgo Holding Inc. if it’s not paid in full.
Turkey, Venezuela ink trade agreement over phone
18-May-2018 Anadolu Agency
“By expanding its scope, we aim for this agreement to be turned into a free trade agreement as soon as possible,” Erdogan told.
Kimberly-Clark to sue Venezuela over 2016 expropriated factory
24-Apr-2018 Venezuelanalysis
US multinational Kimberly-Clark has filed a formal request to take Venezuela to court regarding the expropriation of its abandoned factory by the government of Nicolas Maduro in July 2016.
Crystallex International, Venezuela settle US$1.2B mine dispute
28-Nov-2017 BNN
Crystallex International Corp. and Venezuela agreed to settle a US$1.2 billion dispute over the 2011 nationalization of a gold deposit in the South American nation.
Venezuela pays Gold Reserve $40 million on $800 million ICSID expropriation judgment
19-Jun-2017 Latin America Herald Tribune
Gold Reserve Inc. reports that it has received a $40 million payment on its $800 million judgment that it won at the World Bank’s International Center for the Settlement of Investment Disputes (ICSID) in 2014.
ICSID committee annuls nearly 90% of award against Venezuela
9-May-2017 Lexology
An International Centre for Settlement of Investment Disputes (ICSID) Committee has annulled nearly 90% of the US$1.6 billion Award which had been won by ExxonMobil affiliates in their ICSID arbitration against Venezuela.
Venezuela lawyer says $1.4 billion Exxon damages award overturned
10-Mar-2017 Reuters
A World Bank tribunal’s order for Venezuela to pay $1.4 billion in damages to Exxon Mobil Corp over nationalizations has been annulled
Air Canada appeals to World Bank over Venezuela funds
28-Jan-2017 Ch-aviation
Air Canada registered a case with the International Centre for Settlement of Investment Disputes to recover USD35 million in blocked funds.
Venezuela loses annulment of Tidewater expropriation ICSID award
2-Jan-2017 Latin American Herald Tribune
The annulment committee formed by the World Bank’s ICSID has ruled that Venezuela must pay oil services company Tidewater $37 million for the expropriation of its ships and rigs in 2009.
Venezuela ordered to pay steelmaker Tenaris $162 million for takeover
15-Dec-2016 Reuters
A World Bank tribunal ordered Venezuela to pay steelmaker Tenaris SA $162 million for expropriating two investments in the country
The men behind ISDS
27-Sep-2016 Oneworld
The so-called “ISDS” has been existing for years already. A revealing look in the hidden world of investor-state dispute settlement.
Venezuela ordered to pay Canadian miner Rusoro more than $ 1.2 billion
29-Aug-2016 Toronto Star
An international arbitration tribunal has ordered Venezuela to pay a Vancouver-based mining company more than $1.2 billion for expropriating its gold mines.