Region: Venezuela
PDVSA hit by claim over Curaçao refinery
Curaçao’s state-run refining company has brought a US$162 million ICDR claim against Venezuela's PDVSA over its management of a refinery on the island.
24 March 2020
Venezuela knocks out claim by dual nationals
A tribunal has declined jurisdiction over a US$370 million investment treaty claim against Venezuela after finding that the state had not consented to UNCITRAL arbitration – also saying it would have rejected the case in any event because of the investors’ dual nationality.
14 November 2019
Dutch court sets aside PDVSA award because of corruption
The Court of Appeal in The Hague has set aside an ICC award against a subsidiary of Venezuela’s state-owned oil and gas company PDVSA on the ground that the underlying contract was procured through corruption.
06 November 2019
ConocoPhillips settles with PDVSA for US$2 billion
US energy company ConocoPhillips has reached a settlement with Venezuela’s state-owned oil group PDVSA to recover the full US$2 billion it was awarded by an ICC tribunal earlier this year.
20 August 2018
Venezuela settles with Crystallex
Distressed Canadian mining company Crystallex has reached a potentially record-breaking settlement with Venezuela over a US$1.39 billion ICSID award – a deal that will likely mean significant returns for the private equity firm that funded the arbitration.
27 November 2017
Koch awarded damages in Venezuela fertiliser case
An ICSID tribunal has ordered Venezuela to pay damages to Swiss subsidiaries of Kansas-based Koch Industries for the expropriation of a fertiliser plant seven years ago.
01 November 2017
Tribunal wraps tortilla makers' treaty claim
Two Spanish subsidiaries of Mexican food group Gruma have won nearly half a billion dollars from Venezuela in an ICSID dispute over the expropriation of their tortilla and corn flour production businesses.
28 July 2017
ICSID creditor takes award from New York to DC
US oil services group Tidewater has asked a court in Washington, DC, to enforce an ICSID award against Venezuela, after a Second Circuit ruling cast a shadow over the recognition of the same award in New York.
26 July 2017