Swiss Companies Urge Court To Enter More Than $387M Judgment Against Venezuela

Mealey's (March 25, 2021, 1:27 PM EDT) -- WASHINGTON, D.C. — Two Swiss entities in a March 22 motion for summary judgment urge a District of Columbia federal court to confirm arbitral awards against the Bolivarian Republic of Venezuela worth more than $387 million with preaward interest, attorney fees and costs, writing that there are no grounds to delay enforcement as an ad hoc committee hearing Venezuela’s bid to annul the award refused to order a stay of enforcement after Venezuela failed to post security....