ICSID Rejects Application To Annul Award Dismissing Claims Against Venezuela

(February 8, 2018, 1:01 PM EST) -- WASHINGTON, D.C. — An ad hoc committee for the International Centre for Settlement of Investment Disputes (ICSID) on Feb. 7 released its decision in a treaty arbitration commenced by a holding company against the Bolivarian Republic of Venezuela, rejecting the company’s application to annul an award in which the tribunal found that it lacked jurisdiction over the case (Venoklim Holding BV v. Bolivarian Republic of Venezuela, No. ARB/12/22, ICSID)....