Matter
Venezuela Holdings B.V. and others v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/07/27)
- 10 June 2010Arbitration
10 June 2010Arbitration
Decision on Jurisdiction dated 10 June 2010
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal held that it had jurisdiction over the Mobil Parties' claims subject to the applicable dates and the Netherlands–Venezuela investment treaty, rejected jurisdiction under Article 22 of the Venezuelan Investment Law, ordered the arbitration to continue, and reserved costs.
Supporting details
4 authoritiesInternational Centre for Settlement of Investment Disputes
9 months and 14 days later · 287 days
- 24 March 2011Arbitration
24 March 2011Arbitration
Decision on Production of Documents dated 24 March 2011
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal denied Venezuela's application for an order requiring production of documents because the requested documents had not been shown to be necessary.
Supporting details
International Centre for Settlement of Investment Disputes
3 years, 6 months and 15 days later · 1295 days
- 9 October 2014Arbitration
9 October 2014Arbitration
Award dated 9 October 2014
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal rejected the income-tax claim for lack of jurisdiction, upheld jurisdiction over the extraction-tax, production and export-curtailment, and expropriation claims, and ordered Venezuela to pay compensation for the production and export curtailments and the expropriation of the Cerro Negro and La Ceiba Projects, with annual compound interest at 3.25% from 27 June 2007. Each party was to bear its own costs and counsel fees, and the parties were to share the Tribunal and ICSID costs equally.
Supporting details
International Centre for Settlement of Investment Disputes
8 months and 3 days later · 246 days
- 12 June 2015Arbitration
12 June 2015Arbitration
Decision on Revision dated 12 June 2015
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal dismissed the Application for Revision as inadmissible, automatically terminated the stay of enforcement, and ordered Venezuela to bear the costs of the proceeding and the Mobil Parties' legal fees and expenses.
Supporting details
International Centre for Settlement of Investment Disputes
1 year, 8 months and 25 days later · 636 days
- 9 March 2017Arbitration
9 March 2017Arbitration
Decision on Annulment dated 9 March 2017
International Centre for Settlement of Investment Disputes
- Decision summary
- The ad hoc Committee rejected annulment requests concerning jurisdiction and document production, partially upheld the request concerning compensation for the Cerro Negro expropriation, and annulled paragraph 404(d) and related paragraphs of the Award. The parties were to bear their own case-preparation costs and share the annulment proceeding costs equally.
Supporting details
International Centre for Settlement of Investment Disputes
- Date not availableUnited States
Date not availableUnited States
Order and Judgment of a United States federal court
United States federal court
- Decision summary
- The court issued an ex parte order and judgment for the full amount of the Award.