ICSID Refuses To Reconsider Finding That Venezuela Breached Treaty

(January 20, 2017, 12:39 PM EST) -- WASHINGTON, D.C.— A tribunal for the International Centre for Settlement of Investment Disputes (ICSID) on Jan. 18 released a decision in which it denied the third request of the Bolivarian Republic of Venezuela for reconsideration of a decision that it breached a bilateral investment treaty (BIT) when it expropriated an investment by a group of companies in oil projects (ConocoPhillips Petrozuata B.V., et al. v. Bolivarian Republic of Venezuela, No. ARB/07/30, ICSID)....

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