D.C. Judge Confirms $740.3 Million ICSID Award Issued Against Venezuela
(November 23, 2015, 11:47 AM EST) -- WASHINGTON, D.C. — A District of Columbia federal judge on Nov. 20 granted a Canadian gold mining company's petition to confirm a $740.3 million arbitration award issued in its favor and against the Bolivarian Republic of Venezuela, finding that the award did not violate public policy and that all of the relevant factors weighed in favor of confirmation (Gold Reserve Inc. v. Bolivarian Republic of Venezuela, No. 1:14-cv-2014, D. D.C.).
(Opinion available. Document #05-151124-021Z.)
On Nov. 26, Gold Reserve Inc. filed a petition to confirm in...