Venezuela ranks second in international arbitration cases

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Venezuela ranks second in international arbitration cases

posted on Feb 25, 2011 10:35AM

Venezuela ranks second in international arbitration cases

February 25, 2011, 2:21 a.m. | With a total of 19 cases, Venezuela is the second country with the largest number of international arbitration claims before the International Centre for Settlement of Investment Disputes (ICSID), according to lawyer Joseph Gregorio Torres, in the present forum organized Venamcham tax.

"There are several billion dollars, " Torrealba said in his presentation, adding that Argentina ranks first with 40 cases. He added that of the 26 cases that went to ICSID arbitration in 2010, four corresponded to Venezuela. And in the two months between 2011 and have joined three lawsuits against the Venezuelan state, are Longreef Investments, Nova Scotia Power Incorporated and Highbury Trading Inc. This, without mentioning the case of Cristalex, which has not yet been registered by the ICSID. IGM