TDM IACL Case Report: Valle Verde Sociedad Financiera S.L. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/12/18) - Decision on Provisional Measures
Country
Year
2016
Summary
Case report (free download)
Case Report by Raúl Pereira de Souza Fleury, editor Ignacio Torterola
Summary
In a Decision on Provisional Measures issued on 25 January 2016, an International Centre for Settlement of Investment Disputes ("ICSID") Tribunal, unanimously rejected both Valle Verde's First and Additional requests for Provisional Measures seeking Venezuela to make: (a) the advanced payment for its portion of the proceedings' cost and repay the payment advanced by Claimant; and (b) to correct or destroy certain information published in two websites reporting a statement made by the President of Venezuela's National Assembly against DLA Piper and Valle Verde's representative, and to refrain from carrying out other conduct which could aggravate or extend the dispute.
Main Issues
Provisional measures, competence to recommend provisional measures, admissibility and requirements for provisional measures
Case report provided by International Arbitration Case Law (IACL)
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