Political instability and an overarching shift to the left in parts of Latin America are bringing uncertainty for employers in the region, but there are signs of economic strength in some areas, heard delegates at the sixth annual Latin Lawyer Labour & Employment conference held on Wednesday in Miami.
A Venezuelan financial services group says it has launched an investment treaty claim against the Netherlands after its banking subsidiary on the Dutch Caribbean island of Curaçao had its assets frozen.
An International Centre for Settlement of Investment Disputes (ICSID) annulment committee has dismissed a petition by an Aruba mining company and its affiliate to annul an award rejecting their US$633 million claim against Venezuela.
The opposition, led by Venezuelan National Assembly president Juan Guaidó, announced on 3 September that it had brought in James Bromley and Sergio Galvis to help restructure its external debt and other obligations.
Ahead of the publication of the 2020 edition of LACCA Approved, we take a look at the results to find out who Latin America’s leading law firm partners are, as voted for by in-house counsel.
An ICSID committee has discontinued proceedings brought by Venezuela to annul a US$42 million award in favour of a French investor after the state failed to make an advance payment of costs – while enforcement battles continue in the US courts.
Venezuela’s state-owned oil group PDVSA has defeated a US$1.5 billion International Chamber of Commerce (ICC) claim brought by US energy company ConocoPhillips over the expropriation of an offshore oil project – just months after an International Centre for Settlement of Investment Disputes (ICSID) tribunal ordered the state to pay a record award for seizing that and other assets.
Carriers and agents that help customers purchase indirect flights between the US and Venezuela may fall afoul of a tough US order than bans flights between the two countries, warns Anita Mosner, a partner at Holland & Knight LLP’s Washington, DC office.
In a wide ranging discussion at the Latin Lawyer - GRR Live 4th Annual Restructuring summit in New York, speakers discussed Venezuela's post Maduro future, the country's conflicting restructuring plans and its soverign debt. Venezuelan companies that were worth US$1 billion 20 years ago can now be bought for US$55 million, according to GCG Advisors managing partner Jose Gonzales. “If you want to take the risk, there should be plenty of opportunity.”
A US appeals court in Pennsylvania has ruled that Canadian mining company Crystallex can seize shares in a US refinery business owned by Venezuela’s national oil and gas company PDVSA to satisfy a US$1.2 billion International Centre for Settlement of Investment Disputes award.