News

Venezuela triumphs in Dutch Court of Appeals. A US$240 million claim brought by the members of the García Armas family was rejected based on their dual nationality in Manuel Garcia Armas and others v. Venezuela. According to Partner Ignacio Torterola, the judgment confirms that dual nationals bringing claims against their home state “is alien to international law, including investment law.” GST LLP served as counsel to Venezuela, while The Garcías were represented by Freshfields and Dechamps International Law.

The dual Venezuelan-Spanish nationality of claimants compelled an UNCITRAL tribunal to decline jurisdiction. GST LLP partners Ignacio Torterola and Diego Gosis noted that the decision, the third rejecting a claim of double nationals is “fundamental”, and that it provides “useful guidance” on obtaining dispute resolution.

UNCITRAL declines jurisdiction over an investment treaty claim against Venezuela. GST LLP Partner Ignacio Torterola acknowledges the fairness of the outcome, citing that Clorox España’s transfer of shares is not a protected investment in its Venezuelan subsidiary.

Domenico Di Pietro spoke at the UNCITRAL Congress in honor of the organization's 60th anniversary. His lecture was on the New York Convention. The event took place in Kiev, Ukraine.

GST LLP Partners Diego Gosis and Ignacio Torterola welcome the enforcement of security costs to protect against frivolous claims appearing before tribunals after two investment treaty cases against Venezuela were ordered to prove they have sufficient assets to pay costs if they lose. The García Armas family are pursuing UNCITRAL and ICSID under the Spain-Venezuela BIT over the expropriation of their food distribution businesses.