Search for:
Category

Venezuela

Category

A. LEGISLATION AND RULES A.1 Legislation International arbitration in Venezuela continues to be governed by the Commercial Arbitration Law, published in the Official Gazette of the Bolivarian Republic of Venezuela No. 36.430 on 7 April 1998, to which no legislative amendment has been made since. In addition, Venezuela is a contracting state to a number of arbitration treaties, such as the 1911 Caracas Convention, the New York Convention, the 1975 Panama Arbitration Convention, and the…

VENEZUELA Eugenio Hernández-Bretón, María Eugenia Salazar, Gabriel De Jesús, Héctor Martínez and María Alejandra Ruiz. A. LEGISLATION AND RULES A.1       Legislation International arbitration in Venezuela continues to be governed by the Commercial Arbitration Law, published in the Official Gazette of the Bolivarian Republic of Venezuela No. 36.430 on 7 April 1998. No legislative amendment has been made since. In addition, Venezuela is a contracting State to a number of arbitration treaties such as the 1911…

Venezuela’s withdrawal from the ICSID Convention does not prevent foreign investors from relying on other mechanisms in order to protect their rights. On 24 January 2012, the Bolivarian Republic of Venezuela formally deposited with the International Centre for Settlement of Investment Disputes (ICSID) – an international institution depending from the World Bank ‑ its “irrevocable denunciation” of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention), asserting that “Venezuela…