Judge Rejects Venezuela’s Due Process Challenge To $440M ICSID Award

Mealey's ( May 17, 2023, 7:48 AM EDT) -- WASHINGTON, D.C. — A District of Columbia federal judge on May 15 adopted in full a magistrate judge’s report and recommendation and confirmed an International Centre for Settlement of Investment Disputes (ICSID) arbitral award worth more than $440 million against the Bolivarian Republic of Venezuela in favor of two Spanish entities whose investments in Venezuelan food companies were expropriated, rejecting Venezuela’s argument that its due process rights were violated....