Region: Venezuela

ExxonMobil has applied to a court in Washington, DC, to enforce an ICSID award worth over US$985 million plus interest and costs against Venezuela in a 16-year saga over the expropriation of two oil projects.

23 November 2023

A spin-off of US food manufacturer Kellogg has brought a treaty claim against Venezuela over the alleged expropriation of its factory and unauthorised use of its trademarks in the state.

10 November 2023

Two former partners at Venezuelan law firm Leĝa have launched a disputes-focused firm with a presence in London and Madrid.

05 October 2023

A Spanish-Venezuelan businessman has complained to the European Court of Human Rights over the Dutch courts’ refusal to review the dismissal of a US$240 million investment treaty claim against Venezuela.

15 September 2023

An ICC tribunal has ordered Venezuela’s national oil and gas company PDVSA to pay around US$52 million to a Brazilian construction group for terminating contracts to build two gas processing facilities.

22 August 2023

ExxonMobil has joined a line of Venezuela’s creditors seeking to take part in the court-supervised auction of an interest in a state-owned refinery business, which is reportedly valued at US$13 billion.

16 August 2023

An UNCITRAL tribunal has declined jurisdiction over a US$200 million investment treaty claim brought by a dual national against Venezuela over the expropriation of a pharmaceutical business.

28 July 2023

US oil and gas company ExxonMobil has won US$76 million in a resubmitted ICSID claim worth US$1.4 billion against Venezuela over the expropriation of two oil projects.

11 July 2023

The Paris Court of Appeal has upheld a jurisdictional award in favour of two Spanish-Venezuelan nationals in a long-running dispute with Venezuela, ruling the underlying treaty did not preclude them from bringing the claim.

05 July 2023

Three Spanish investors are pursuing a treaty claim against Venezuela over their investment in a dairy venture, it has emerged.

13 June 2023