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Full Text ITA English.pdf

italaw4011.pdf

🔗 Source: italaw.com

📊 Size: 671 KB

📄 Pages: 138 pages

⬇️ Downloads: 142

Summary

The International Centre for Settlement of Investment Disputes (ICSID) issued an award in a case between Venezuela Holdings, B.V., Mobil Cerro Negro Holding, Ltd., Mobil Venezolana de Petróleos Holdings, Inc., Mobil Cerro Negro, Ltd., and Mobil Venezolana de Petróleos, Inc. (Claimants) and the Bolivarian Republic of Venezuela (Respondent). The dispute arose from various measures taken by Venezuela, including increases in royalty rates, creation of an extraction tax, increases in income tax rates, production and export curtailments, and expropriation of the Claimants' investments in the Cerro Negro and La Ceiba projects. The Tribunal found that Venezuela's actions constituted a breach of the fair and equitable treatment (FET) standard and were arbitrary and discriminatory. The award discusses the procedural history, facts, parties' submissions, jurisdiction, applicable law, and effects of a related ICC arbitration.

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Description

The International Centre for Settlement of Investment Disputes (ICSID) issued an award in a case between Venezuela Holdings, B.V., Mobil Cerro Negro Holding,...

Technical Information

File Format: PDF
File Size: 671 KB
Pages: 138
Language: EN
Total Downloads: 142
Last Updated: 2 weeks ago

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