Content Join OGEMID
 
  • Linkedin
  • Twitter
  • Rss

Transnational Dispute Management

Skip navigation

Transnational Dispute Management

The network for international arbitration, mediation and ADR, international investment law and Transnational Dispute Management

Join OGEMID

Transnational Dispute Management

The network for international arbitration, mediation and ADR, international investment law and Transnational Dispute Management

  • Sign in
  • Subscribe
  • Home
  • Sign in
  • About About
    1. Home
    2. About
    3. About TDM
    4. About TDM
    5. Founding Editor T.W. Wälde
    6. T.W. Wälde
    7. Editorial team
    8. Editorial team
    9. Contributing Authors
    10. Contributing Authors
    11. Subscriptions
    12. Subscriptions
  • Journal Journal
    1. Home
    2. Journal
    3. Browse Issues
    4. Browse
    5. Articles by Category
    6. By Category
    7. Articles by Author
    8. By Author
    9. Advance publication
    10. Advance publication
    11. Specials
    12. Specials
    13. Search
    14. Search
    15. Book reviews
    16. Reviews
  • Legal & Regulatory docs. L & r docs
    1. Home
    2. Legal & Regulatory docs.
    3. L&R by Country
    4. L&R by Country
    5. L&R by Category
    6. L&R by Category
    7. L&R recent additions
    8. L&R recent additions
    9. Search
    10. Search
  • Audiovisual library AV library
    1. Home
    2. Audiovisual library
    3. Audiovisual Library
    4. Audiovisual Library
    5. TDM/OGEMID Interviews
    6. TDM/OGEMID Interviews
    7. Conference presentations
    8. Conference presentations
  • OGEMID OGEMID
    1. Home
    2. OGEMID
    3. About OGEMID
    4. About OGEMID
    5. Suggest a topic
    6. Suggest a topic
    7. Guest programme
    8. Guest programme
    9. Seminar programme
    10. Seminar programme
    11. Browse archive
    12. Browse archive
    13. Search
    14. Search
    15. Join
    16. Join
  • News & Events Events
    1. Home
    2. News & Events
    3. News
    4. News
    5. Events
    6. Events
  • Subscribe
Home > Legal & Regulatory docs.

Crystallex International Corp. v. Bolivarian Republic of Venezuela, Memorandum Opinion, D.D.C. 16-cv-00661 document 32 filed 25 March 2017

  • Sign in to download document
Country
  • United States
  • Venezuela
Year

2017

Summary


Case report (free download)

Case Report by Ilektra Athanasiou-Ioannou, Editor Diego Luis Alonso Massa

Summary

In the Decision rendered on March 25, 2017, the US District Court for the District of Columbia ("the Court") confirmed in favor of Crystallex International Corporation ("Crystallex", "Petitioner") the 2016 ICSID Additional Facility Arbitration Award in the amount of USD 1.386 billion against the Bolivarian Republic of Venezuela ("Venezuela", "Respondent"): specifically, the Court granted Crystallex's petition to confirm, and denied Venezuela's cross-motion to vacate, the Award; for these reasons, the Court denied Petitioner's motion for a pre-judgment bond as moot. In the Memorandum Opinion accompanying the Court's Order, the Court held that arbitrability issues were delegated to the Tribunal by clear and unmistakable evidence based on the language of the Canada-Venezuela Bilateral Investment Treaty ("Canada-Venezuela BIT", the BIT) and the arbitration rules, and therefore deferentially reviewed the Tribunal's decisions. The Court held that the Tribunal did not exceed its powers under Article V(1)(c) of the New York Convention by ruling on certain claims or using certain calculation methods. Additionally, the Court refused to vacate the award based on Article V(2)(b) of the New York Convention, finding that its confirmation was not contrary to public policy. Finally, the Court rejected Venezuela's independent argument that the award is in manifest disregard of the law, casting doubt on whether that doctrine is even "still good law."

Main issues

Enforcement of ICSID AF Award - Article 45, ICSID Additional Facility Rules; doctrine of competence-competence - Foreign Sovereign Immunities Act; jurisdiction of U.S. courts for enforcement proceedings - Standard of review of arbitral awards by U.S. courts: deferential standard - New York Convention; grounds for refusal of enforcement - Article V(1)(c): decision on matters beyond the scope of the submission to arbitration - Article V(2)(b): award contrary to public policy - Federal Arbitration Act §§10,11 ; grounds for vacatur, modification or correction - Manifest disregard of the law as ground for non-enforcement

Crystallex International Corporation v. Bolivarian Republic of Venezuela, No. 1:16-CV-00661-RC (D.D.C. Mar. 25, 2017) - Enforcement Proceedings of Arbitration Award

Case report provided by International Arbitration Case Law (IACL)

To download this document you need to be a subscriber

Sign in

Forgot password?

Sign in

Subscribe

Fill in the registration form and answer a few simple questions to receive a quote.

Subscribe now

Documents missing? Documents to share? Let us know!

If you know of documents which are currently missing from our Legal & Regulatory database do let us know. You can send them directly to us for inclusion in the database, anonymously or otherwise.
Learn more here

Call for contributions

TDM Call for Papers: Old and New Disputes in Aerospace Law

Prof. Yun Zhao and Dr. J. Górski

  • Prof. ZHAO Yun
  • Dr. Jedrzej Gorski

TDM Call for Papers: The Future of Investment Law in Latin America

Dr. Sébastien Manciaux and Francisco Victoria-Andreu

  • Sebastien Manciaux
  • Francisco Victoria-Andreu

TDM Call for Papers: Islamic Finance and Dispute Resolution

Professor Dr A F M Maniruzzman

  • Professor Dr A F M Maniruzzman

Invitation to write: Overlap between Bankruptcy / Insolvency Proceedings and Arbitrations

TDM Editorial Team

Transnational Dispute Management

TDM Call for Papers: The African Continental Free Trade Agreement (AfCFTA)

J. Chaisse, J. Górski, E. Laryea, M.M. Mbengue, and K. Olaoye

  • Prof. Julien Chaisse
  • Dr. Jedrzej Gorski
  • Prof. Emmanuel Laryea
  • Prof. Makane Moïse Mbengue
  • Kehinde Olaoye

TDM Call for Papers: International Investment and Competition Law in AND with the Global South

Prof. Leila Choukroune and Anu Monga

  • Prof. Leila Choukroune
  • Anu Monga
  • More
  • Contribute

Advance publication

COVID-19: Complicating Contractual Performance

20 Jan 2021

S. Salwi

  • S. Salwi

Arbitrability of Competition Law Disputes in India

18 Jan 2021

A. Solanki, A. Tanwar

  • A. Solanki
  • A. Tanwar

Africa's Investment Treaty Practice with China: Are the Africa-China BITs Conducive to the Implementation of the AU Agenda 2063?

8 Jan 2021

G.M. Zagel

  • G.M. Zagel
  • More
  • Contribute

Stay connected

Sign up for our email alerts.

  • Issues
  • Advance publication
  • News
  • Linkedin
  • Twitter
  • RSS

Join the debate

Want to join OGEMID, the leading on-line discussion platform for international dispute resolution?

Simply fill in the registration form to start your trial membership.

Download the app

  1. App store
  2. Google play

The Transnational Dispute Management Journal (TDM, ISSN 1875-4120) and OGEMID listserv focus on recent developments in the area of (investment) arbitration and dispute management, regulation, treaties, judicial and arbitral cases, voluntary guidelines, tax and contracting. Read our Terms & Conditions here, and our Privacy Policy here.

About TDM

  • Terms & Conditions
  • Contribute
  • Subscriptions
  • Contact
  • Help

Other publications

  • Oil, Gas & Energy Law Intelligence (OGEL)

© 2004 - 2021. Published by MARIS.

  • Home
  • Contribute
  • Subscriptions
  • Contact
  • Help