ICSID Finds It Lacks Jurisdiction To Hear Treaty Claims Against Venezuela

(December 14, 2017, 9:53 AM EST) -- PARIS — After considering the Bolivarian Republic of Venezuela’s denunciation of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention), a tribunal on Dec. 6 found that it lacks jurisdiction over claims for alleged expropriation of an investment in glass container production plants asserted by two Venezuelan companies (Fabrica De Vidrios Los Andres C.A., et al. v. Bolivarian Republic of Venezuela, No. ARB/12/21, ICSID)....

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