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Travieso Evans Arria Rengel & Paz - News

Conference coverage

Crystallex can seize PDVSA assets in the US
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.

PDVSA company wins appeal over transfer of US assets
PDVSA company wins appeal over transfer of US assets

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 settles with Crystallex
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.

Crystallex sues New York bank over Venezuela funds
Crystallex sues New York bank over Venezuela funds

Crystallex sues New York bank over Venezuela funds

19 September 2017

An International Centre for Settlement of Investment Disputes (ICSID) creditor has brought a US court action to compel Bank of New York Mellon to hand over funds belonging to the Venezuelan government that are also at issue in an unrelated arbitration in Rio de Janeiro.

Venezuela appeals Crystallex award
Venezuela appeals Crystallex award

Venezuela appeals Crystallex award

27 April 2017

The Venezuelan government has appealed a ruling by a US district court last month that confirmed a US$1.39 billion arbitral award in favour of distressed Canadian mining company Crystallex.

Crystallex award confirmed in US
Crystallex award confirmed in US

Crystallex award confirmed in US

31 March 2017

A court in Washington, DC, has confirmed Canadian gold mining company Crystallex’s US$1.39 billion ICSID award against Venezuela, one of the largest awards ever faced by the state.

Two LatAm awards revisited at ICSID
Two LatAm awards revisited at ICSID

Two LatAm awards revisited at ICSID

24 August 2016

Two ICSID cases relating to Latin America are to be reopened, as Venezuela applies to annul a US$98 million award won by the Vestey meat group and tobacco producer Philip Morris seeks to rectify an award dismissing its controversial claim against Uruguay. 

Venezuela ordered to pay US$98 million for cattle farms seizure
Venezuela ordered to pay US$98 million for cattle farms seizure

Venezuela ordered to pay US$98 million for cattle farms seizure

25 April 2016

A case that has been on ICSID’s books for a decade has ended, after a tribunal ordered Venezuela to pay a British meat producer US$98 million for the expropriation of a cattle farming business.

Crystallex moves to enforce against Venezuela
Crystallex moves to enforce against Venezuela

Crystallex moves to enforce against Venezuela

14 April 2016

Days after winning a US$1.4 billion ICSID award against Venezuela, distressed Canadian mining company Crystallex has applied to enforce it in the courts of Washington, DC.

Crystallex wins billion-dollar award against Venezuela
Crystallex wins billion-dollar award against Venezuela

Crystallex wins billion-dollar award against Venezuela

06 April 2016

Canadian mining company Crystallex has won more than US$1.38 billion in a treaty claim against Venezuela over an investment in a gold-mining project – one of the largest awards in ICSID’s history.