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Venezuela

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 $1.2 billion for expropriating its gold mines.
Spanish agriculture firms file arbitration claim against Venezuela
8-Jul-2016 Reuters
Spanish agriculture company Grupo Agroinsumos Ibero-americanos and associated firms have filed an arbitration case against Venezuela via a World Bank tribunal, seeking compensation for the 2010 nationalization of its operations.
Venezuela ordered to pay Crystallex US$ 1.386 billion in arbitration ruling
6-Apr-2016 Financial Post
An arbitration tribunal has ordered the Venezuelan government to pay a whopping US$1.386 billion to Canadian miner Crystallex International Corp.
Venezuela, Gold Reserve to settle arbitration dispute with joint venture
25-Feb-2016 Reuters
Venezuela and Canadian mining company Gold Reserve signed a memorandum of understanding to settle a protracted arbitration dispute over a gold concession.
Tenaris wins $173 million dispute in Venezuela
12-Feb-2016 SteelOrbis
Luxembourg-based pipe producer Tenaris announced it won a $172.8 million compensation for the expropriation by Venezuela of Tenaris’ and its subsidiary Talta’s interests.
Oil giants punish Venezuela through Dutch treaty
8-Jan-2016 Eurasia Review
Venezuela doesn’t want investment treaties anymore if they give investors the right to drag the country before a commercial court. “The system has been set up to break down the nation-state.”
Venezuela loses US refinery as ConocoPhillips ICC award enforced in US court
8-Sep-2015 Latin American Herald Tribune
A U.S. Federal Court has upheld U.S. enforcement of an International Chamber of Commerce (ICC) arbitration agreeing that U.S. oil giant ConocoPhillips has the right to take Venezuela state oil company PDVSA’s 50% stake.
ConocoPhillips files for arbitration against PDVSA for contractual compensation
12-Oct-2014
ConocoPhillips announced Friday that it has filed for arbitration under the rules of the International Chamber of Commerce or ICC against Petroleos de Venezuela or PDVSA, the Venezuela state oil company, for contractual compensation related to the Petrozuata and Hamaca heavy crude oil projects.
Venezuela ordered to pay Exxon $1.6 bln for nationalization
10-Oct-2014 Reuters
A World Bank arbitration tribunal on Thursday ordered Venezuela to pay Exxon Mobil Corp around $1.6 billion to compensate for the 2007 nationalization of its oil projects in the country.
Gold Reserve says awarded $740.3 mln in Venezuela Brisas arbitration
23-Sep-2014 Reuters
The International Centre for Settlement of Investment Disputes (ICSID) determined Venezuela must pay US-based miner Gold Reserve $740.3 million for terminating its Las Brisas gold concession, the company said on Monday.
The Alba Fair hosts Venezuela Exporta in Cochabamba
14-Jul-2014 Aporrea
Alvaro Garcia Linera, the vice president of Bolivia, was entrusted with inaugurating in Cochabamba, the Fair of Industrial Complementarity of the Bolivarian Alliance for the People of Our America – a Trade Treaty for the People (Alba – TCP)
World Bank’s ICSID rejects Venezuela "appeal" over ConocoPhillips expropriation
13-Mar-2014 Latin American Herald Tribune
In a 2-1 decision, the World Bank’s arbitration panel has rejected Venezuela’s request for "reconsideration" of its September 2013 finding that it had jurisdiction and that Venezuela was liable for the expropriation of ConocoPhillips’ investments in the Latin American nation.
Alba alliance ambitions lay bare Latin trade confusion
1-Aug-2013
In the bewildering array of Latin American and Caribbean trade alliances, the left-of-centre Alba group is probably the one that attracts the least attention outside the region.