Venezuela wins again as panels divide over ICSID denunciation

An International Centre for Settlement of Investment Disputes (ICSID) tribunal has departed from the recent award in the Favianca case by finding that a US$100 million claim brought against Venezuela by an investor in a BMW and Mini Cooper import business was not barred by the state’s denunciation of the ICSID Convention – but ultimately declined to hear it on other grounds.

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