News

D’Empaire promotes in inflation-ravaged Venezuela

D’Empaire promotes in inflation-ravaged Venezuela

20 February 2018

Venezuelan heavyweight D'Empaire has made a rare triple partner promotion in the crisis-hit country.

US charges former PdVSA officials with bribery and money laundering

US charges former PdVSA officials with bribery and money laundering

19 February 2018

The US Department of Justice (DoJ) has charged five former Venezuelan officials with participating in a scheme to launder bribes paid to secure contracts with the country’s state-owned oil company.

Guatemalan arbitrator faces trio of challenges from Venezuela

17 January 2018

Venezuela has challenged Guatemalan arbitrator Álvaro Castellanos Howell in three active annulment proceedings the state faces at the International Centre for Settlement of Investment Disputes (ICSID) because of his alleged criticism of the state’s judicial system.

PDVSA company wins appeal over transfer of US assets

16 January 2018

A Delaware appeal court has ruled that a US subsidiary of Venezuela’s national oil and gas company PDVSA did not commit a “fraudulent transfer” when it moved US$2.8 billion of assets out of the United States in an alleged bid to evade from the country’s creditors at the International Centre for Settlement of Investment Disputes (ICSID).

Venezuela seeks to annul ICSID award

Venezuela seeks to annul ICSID award

14 December 2017

Venezuela has applied to annul an ICSID (International Centre for Settlement of Investment Disputes) award against it, after winning a provisional stay of enforcement while its application is pending.

Trust in governments key to tax amnesty’s success, hear delegates

Trust in governments key to tax amnesty’s success, hear delegates

11 December 2017

Tax amnesty programmes only work if taxpayers trust governments to protect and avoid misusing their financial information, said panellists at Latin Lawyer’s 2nd Annual Tax Summit, held in Miami last month.

Baker McKenzie makes rare lateral hire in Venezuela

Baker McKenzie makes rare lateral hire in Venezuela

05 December 2017

Baker McKenzie has recruited a tax partner to its office in Caracas, bringing the partner count there to 14.

Venezuela’s Hoet Peláez launches Russia desk

Venezuela’s Hoet Peláez launches Russia desk

04 December 2017

Hoet Peláez Castillo & Duque has recruited a Moscow-educated lawyer who will court Russian business interest in Venezuelan infrastructure and exports.

Venezuela settles with Crystallex

Venezuela settles with Crystallex

01 December 2017

Distressed Canadian mining company Crystallex has reached a potentially record-breaking settlement with Venezuela over a US$1.39 billion award from the International Centre for Settlement of Investment Disputes (ICSID) – a deal that will likely mean significant returns for the private equity firm that funded the arbitration.

Venezuela wins again as panels divide over ICSID denunciation

28 November 2017

An International Centre for Settlement of Investment Disputes (ICSID) tribunal has departed from the recent award in the Favianca case by finding that a US$100 million claim brought against Venezuela by an investor in a BMW and Mini Cooper import business was not barred by the state’s denunciation of the ICSID Convention – but ultimately declined to hear it on other grounds.