Mealey's Litigation Procedure - ICSID Refuses Venezuela's Request To Reconsider Jurisdictional Ruling

Mealey's Litigation Procedure - ICSID Refuses Venezuela's Request To Reconsider Jurisdictional Ruling

WASHINGTON, D.C. - A tribunal for the International Centre for Settlement of Investment Disputes (ICSID) on March 10 released a decision in which it refused to reconsider a decision in which it found that the Bolivarian Republic of Venezuela breached its obligation to negotiate compensation in relation to assets it took from investors in various oil projects but dismissed certain claims for lack of jurisdiction (ConocoPhillips Petrozuata B.V., et al. v. Bolivarian Republic of Venezuela, No. ARB/07/30, ICSID).

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