Company: Venezuela Must Pay Arbitration Award For Fracking Investment Seizure

Mealey's (January 9, 2019, 9:44 AM EST) -- WILMINGTON, Del. — A plastics manufacturer on Dec. 12 filed a complaint in Delaware federal court seeking to register and enforce a $42,342,379.31 international arbitration award from a judgment it won against the Bolivarian Republic of Venezuela for the unlawful expropriation of the company’s investment in Venezuela related to the manufacture of ceramic proppants used in hydraulic fracturing operations (Saint-Gobain Performance Plastics Europe v. Bolivarian Republic of Venezuela, et al., No. 18-1963, D. Del.)....