Venezuela Requests Stay Of Petition To Confirm $491M Award Pending Annulment Case

Mealey's (October 18, 2017, 3:50 PM EDT) -- WASHINGTON, D.C. — The Bolivarian Republic of Venezuela on Oct. 11 filed its opposition to a Netherlands entity’s petition to confirm a $491,081,701 arbitral award that was issued in its favor, pending the outcome of an annulment proceeding currently pending before the International Centre for Settlement of Investment Disputes (ICSID) (OI European Group B.V. v. Bolivarian Republic of Venezuela, No. 1:16-cv-01533, D. D.C.)....

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