News

DOJ unveils more guilty pleas as another PDVSA official flips

21 September 2018

The US Department of Justice (DOJ) announced two guilty pleas in a corruption case targeting Venezuela’s state-owned oil company Petróleos de Venezuela (PDVSA) by a US-based executive for a logistics company and the government official he bribed.

Programme for Latin Lawyer 3rd Annual Tax event now online

Programme for Latin Lawyer 3rd Annual Tax event now online

04 September 2018

The complete programme for Latin Lawyer's 3rd Annual Tax conference has been announced.

ConocoPhillips settles with PDVSA for US$2 billion

ConocoPhillips settles with PDVSA for US$2 billion

22 August 2018

US energy company ConocoPhillips has reached a settlement with Venezuela’s state-owned oil group PDVSA to recover the full US$2 billion it was awarded by an International Chamber of Commerce (ICC) tribunal earlier this year.

Third-party claimants told to pay security for Venezuela arbitration

15 August 2018

A tribunal hearing a pair of bilateral investment treaty claims against Venezuela has ordered the third-party funded claimants to post US$1.5 million in security for costs – only the second known time such an order has been made in an investment arbitration.  

Crystallex can seize PDVSA assets in the US

Crystallex can seize PDVSA assets in the US

14 August 2018

A US court has authorised Canadian mining company Crystallex to seize assets held by a US subsidiary of Venezuela’s national oil and gas company PDVSA as part of its efforts to enforce a US$1.4 billion International Centre for Settlement of Investment Disputes (ICSID) award against the state.

US alleges kickbacks by law firms in Venezuelan arbitration cases

06 August 2018

The US Department of Justice has alleged that unnamed law firms representing Venezuela in international arbitrations arranged to pay “kickbacks” to the relative of a Venezuelan government official.

PDVSA insurance company seeks recognition of Bermuda proceedings

PDVSA insurance company seeks recognition of Bermuda proceedings

02 August 2018

The provisional liquidators for an insurer owned by Venezuela’s state-owned oil company PDVSA have filed for Chapter 15 recognition of its Bermudian reorganisation in New York, seeking to gain access to British pounds in the insurer’s US bank accounts.

Venezuelan mining arbitration award upheld in Miami

Venezuelan mining arbitration award upheld in Miami

23 July 2018

A court in Miami has ordered the enforcement of a US$63 million partial award against a Venezuelan state-owned mining company after an iron ore project with a British Virgin Islands commodities company went awry during the economic turmoil following Hugo Chávez’s death in 2013.

DOJ secures 12th guilty plea in PDVSA bribery case

19 July 2018

A former official for Venezuela’s state-run oil company has pleaded guilty in a Houston federal court over his role in an international bribery scheme.

Panama’s Patton Moreno hires adviser for Venezuelan clients

Panama’s Patton Moreno hires adviser for Venezuelan clients

18 July 2018

Patton, Moreno & Asvat has hired a former in-house lawyer to Cemex’s Caracas office as counsel to capture outbound work from Venezuela.