D.C. Circuit Affirms Confirmation Of $440M ICSID Award Against Venezuela

Mealey's (December 12, 2023, 2:20 PM EST) -- WASHINGTON, D.C. — The District of Columbia Circuit U.S. Court of Appeals ruled that an International Centre for Settlement of Investment Disputes (ICSID) arbitral award worth more than $440 million against Bolivarian Republic of Venezuela and its foreign ministry for the expropriation of two Spanish entities’ investments was properly confirmed without review of the tribunal’s merits or jurisdictional findings pursuant to the ICSID Convention....

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