15 January 2019
Spanish subsidiaries of Mexican food group Gruma have started proceedings in Washington, DC, to enforce a US$430 million International Centre for Settlement of Investment Disputes (ICSID) award against Venezuela relating to the Chávez-era expropriation of their business producing corn and wheat flour and tortillas.
10 January 2019
D’Empaire in Caracas and Herbert Smith Freehills in Paris have helped France’s Maurel & Prom acquire Shell’s stake in a joint venture with struggling state-owned oil group PDVSA, in what is thought to be Venezuela’s biggest private sector deal of 2018.
17 December 2018
From the start of January 2019, we are changing the way we collect deal submissions. The new process is designed to speed up our reporting on transactions, allow for a broader coverage of deals via monthly round ups and provide readers with a better analysis of who is doing what in the market. In turn, this will deepen and improve our research for the Latin Lawyer 250 and LACCA’s annual list of Who Represents Latin America’s Biggest Companies.
06 December 2018
Canadian mining company Crystallex, which is undergoing proceedings under the Companies' Creditors Arrangement Actin Toronto (CCAA), has received US$500 million from Venezuela as partial payment for an arbitral award, under a deal allowing the state to keep hold of its national oil company’s US refining subsidiary.
05 December 2018
Venezuelan law firm Araquereyna has launched WIDÚ Legal, an online platform designed to help companies and individuals fill out legal documents and applications.
04 December 2018
Venezuela has paid US$500 million to distressed Canadian mining company Crystallex to partially satisfy a US$1.4 billion International Centre for Settlement of Investment Disputes (ICSID) award – as part of a renegotiated settlement deal that will allow the country’s national oil and gas company PDVSA to keep control of US-based refiner Citgo Petroleum.
15 November 2018
A Peruvian entrepreneur has launched an International Centre for Settlement of Investment Disputes (ICSID) claim against Venezuela over the seizure of his telecoms company by a group of judicial officers supported by armed police.
31 October 2018
ExxonMobil has resubmitted a claim against Venezuela to ICSID, after an annulment committee dramatically slashed US$1.4 billion from an award the oil group secured in 2014, concluding that the original tribunal had exceeded its powers.
19 October 2018
Tax heads from Chilean airliner LATAM, food service group Compass, logistics provider Crowley and scaffolding supplier AT-PAC will discuss transfer pricing and customs duties in a panel moderated by a top DLA Piper LLP economist at the Latin Lawyer Live 3rd Annual Tax summit next month.
17 October 2018
Canadian mining company Rusoro has agreed a US$1.3 billion settlement with Venezuela to satisfy an International Centre for Settlement of Investment Disputes (ICSID) additional facility award it secured two years ago – the latest in a number of recent settlements reached by the beleaguered Latin American state.