Bottlemaker says Venezuela award threatens ICSID's integrity

An award that declined to hear a billion-dollar claim against Venezuela because it was filed after the state gave notice of its denunciation of the International Centre for Settlement of Investment Disputes (ICSID) Convention represents an “egregious assault” on the integrity and legitimacy of ICSID, according to an annulment application filed by two subsidiaries of US bottlemaker Owens Illinois.