Venezuela is facing a fresh claim at the International Centre for Settlement of Investment Disputes (ICSID) from a Uruguayan tobacco investor who says his business had shipments of cigarettes seized and its license revoked by local authorities.
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.
Peru was the busiest country for M&A transactions in Spanish-speaking Latin America during January and February, with more deals taking place there than in Mexico and Argentina combined, according to Latin Lawyer’s research.
Gibson, Dunn & Crutcher LLP in Los Angeles and Philippi Prietocarrizosa Ferrero DU & Uría (Colombia) in Bogotá have helped private equity firm Platinum Equity acquire Swiss life sciences group Lonza’s entire water sanitation business in Colombia for US$630 million.
Venezuela’s self-declared acting president Juan Guaidó has asked a US court for leave to intervene in an appeal concerning the fate of the country’s most valuable US asset, oil refining business Citgo Petroleum.
Venezuela’s opposition government has asked to intervene before a US court to stay enforcement proceedings against a state-owned oil company brought by insolvent Canadian miner Crystallex, arguing the case could frustrate the transition of presidential power.
In early 2018, Óscar Centeno, a driver for an ex-official in Argentina’s ministry of public planning, turned over a box of handwritten notebooks to newspaper La Nación. In doing so, he sparked Argentina’s largest ever investigation into graft.
Gibson Dunn & Crutcher LLP is acting for two Cayman Islands-based funds in lawsuits filed against the Venezuelan government, bringing the fight to recover the state’s overdue bonds to the US.
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.
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.