This Post analyzes the recent award in Fábrica de Vidrios Los Andes, C.A. & Owens-Illinois de Venezuela, C.A. v. Bolivarian Republic of Venezuela ("Favianca"). This is the first award to rely on…
The epitome – and uncontroversial part - of the legitimate expectations doctrine is that a sovereign’s failure to live up to its promises made towards an investor who relied on such promise to make…
Recently the U.S. Executive Branch made headlines by agreeing with Venezuela. In particular, the Executive Branch filed an amicus curiae submission in New York federal appeals court in which it…
Apropos of a recent decision in ConocoPhillips v. Venezuela (ICSID Case No ARB/07/30), this post discusses the potential underlying concerns an arbitral tribunal may consider when deciding whether it…
The four most recent ICSID disqualification decisions (Universal Compression v. Venezuela, OPIC Karimum v. Venezuela, Tidewater v. Venezuela and Urbaser v. Argentina) have unanimously rejected…
Two ICSID tribunals have now weighed in on the much-debated question of whether Art. 22 of Venezuela’s Foreign Investment Law provides Venezuela’s consent to ICSID arbitration. In Decisions on…
