Region: Venezuela, Bolivarian Republic of

Dutch court blocks enforcement against Venezuelan state entities

A Dutch appeal court has refused to allow the holder of a US$500 million ICSID award against Venezuela to pursue enforcement against the country’s national oil company and its subsidiaries.

21 June 2023

Argentine arbitrator survives challenge over Venezuela appointments

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

US sanctions agency gives nod to Venezuelan asset sale

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

Top Dutch court won’t revive treaty claim against Venezuela

A family of dual nationals has failed to revive a US$240 million treaty claim against Venezuela over the loss of their food business after the Dutch Supreme Court found it had no power to review the arbitrators’ decision to reject jurisdiction.

24 April 2023

"Fifteen years is long enough”: US court enforces Conoco award

A US court has granted ConocoPhillips’ bid to enforce a US$9 billion ICSID award against Venezuela over three oil projects that were expropriated in 2007, finding there is no reason to think the state is likely to succeed in having it annulled.

22 August 2022

Dispute over sunken Venezuelan patrol boat must be arbitrated

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.

29 June 2022

Venezuela challenges “corrupted” Conoco annulment committee

Following arbitrator Kevin Kim’s resignation from an ICSID annulment committee hearing Venezuela’s bid to overturn a US$9 billion award in favour of ConocoPhillips, the state has challenged two more panel members on the basis that they were “corrupted” by his actions.

21 June 2022

Koch’s award against Venezuela upheld at ICSID

An ICSID committee has upheld an award requiring Venezuela to pay more than US$444 million to subsidiaries of US chemicals group Koch Industries for the expropriation of a fertiliser business.

26 May 2022

Ex-Oxy employees fail to win share of billion-dollar award

A US appeals court has refused to order Occidental Petroleum to pay a group of its former employees a share of a billion-dollar ICSID award it won against Ecuador over a terminated oil block contract.

09 May 2022

Faulty service delays enforcement against Venezuela

Venezuela has successfully appealed the US recognition of an ICSID award worth more than US$42 million in favour of a French plastics company on the basis that the enforcement proceedings were not properly served.

26 January 2022

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