Dispute over sunken Venezuelan patrol boat must be arbitrated
The Naiguatá during sea trials (Credit: Wikimedia, Luis García Curado CC BY-SA 3.0)
Venezuela must arbitrate a €425 million dispute with the owners and insurer of a cruise ship over a bizarre maritime showdown that resulted in the sinking of a navy patrol boat, a London court has ruled, while refusing to block the state from pursuing foreign parallel litigation.
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