Venezuela ICSID arbitration cases stacking right up

While you were out:

Longreef Investments A.V.V. v. Bolivarian Republic of Venezuela
(ICSID Case No. ARB/11/5)
Subject Matter: Coffee production facilities

Crystallex International Corporation v. Bolivarian Republic of Venezuela
(ICSID Case No. ARB(AF)/11/2)
Subject Matter: Mining company

That makes 16 “pending” arbitrations at ICSID against Venezuela, compared to 26 for first-place Argentina. GO VENEZUELA!

Oh and what is this?

Williams Cos Files Arbitration Seeking Venezuela Compensation

By Bradley Olson
March 29 (Bloomberg) — Williams Cos Inc. filed for international arbitration against Venezuela seeking compensation for two gas compression facilities expropriated in 2009, company spokesman Jeff Pounds, said today in an e-mail.
Williams filed for arbitration with the International Centre for Settlement of Investment Disputes on March 25, Pounds said. He declined to comment on how much the company is seeking in compensation.

17, baby. Keep it up.

There was also a decision telling Tidewater that they can’t get Venezuela’s favorite arbitrator dismissed just cause Venezuela has now appointed her as their arbitrator to four separate cases. She herself said that could give her the appearance of allegiance to one side in the case, but the other arbitrators said shut up, just be a good judge, now let’s get to work. OK that’s a paraphrase, go read a 25-page PDF of legalese if you want the full story.

Thanks to A. Reader for sending the Bloomberg story.

Advertisements