ISDS Case Map
Venezuela
Anglo American loses $400 million claim against Venezuela over an expropriated ferronickel processing facility.
Investment funds backing a slew of big-dollar corporate lawsuits has boomed over the past decade, fueled by favorable court rulings and investors seeking juicy returns.
Former Canadian mining company Crystallex has resumed efforts to auction shares of Venezuelan-controlled US refiner Citgo and accused Caracas of breaching an earlier settlement to stave off the sale.
Venezuela made an partial payment of a settlement designed to resolve a $1.2 billion arbitration award to a bankrupt Canadian gold miner that’s laying claim to the assets of the parent of refiner Citgo Holding Inc. if it’s not paid in full.
Gold Reserve Inc. received Venezuelan government bonds with an estimated current market value of approximately US$88.5 million.
“By expanding its scope, we aim for this agreement to be turned into a free trade agreement as soon as possible,” Erdogan told.
US oil company ConocoPhillips has brought new court actions to seize two cargoes of crude and fuel near a terminal operated by PDVSA subsidiary Citgo Petroleum in Aruba.
The legal action was the latest in the Caribbean to enforce a $2 billion arbitration award by the International Chamber of Commerce (ICC) over the nationalization.
Rusoro Mining has filed lawsuits in the US and Canada to seek compensation via the monetisation of Venezuela’s assets amounting to approximately $1.34bn in connection with the nationalisation of its gold mining assets in Venezuela.
US oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela’s state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country.
