D.C. Federal Judge Confirms $372M ICSID Award Against Venezuela

Mealey's (May 22, 2019, 2:10 PM EDT) -- WASHINGTON, D.C. — After determining which government’s lawyers represented the Bolivarian Republic of Venezuela and the applicable interest rate post-judgment, a District of Columbia federal judge on May 21 granted a Netherlands entity’s petition to confirm an international arbitral award and ordered Venezuela to pay it the principal amount of $372,461,982, plus costs and interest (OI European Group B.V. v. Bolivarian Republic of Venezuela, No. 1:16-cv-01533, D. D.C.)....