2009
Gold Reserve v. Venezuela
Gold Reserve Inc. v. Bolivarian Republic of Venezuela
(ICSID Case No. ARB(AF)/09/1)
Venezuela, Bolivarian Republic of
Canada
Mining rights held indirectly by claimant in Venezuela under the mining concessions known as the “Brisas Concession” and the “Unicornio Concession” for the extraction of gold, copper and molybdenum.
Claims arising out of the Government's alleged deprivation of claimant's rights in certain gold and copper project in Venezuela, following the issuance of an administrative ruling by the Ministry of the Environment declaring the nullity of certain construction permit and the subsequent termination of claimant's mining concessions.
Primary: B - Mining and quarrying
7 - Mining of metal ores
ICSID AF (ICSID Additional Facility)
ICSID (International Centre for Settlement of Investment Disputes)
Bernardini, P.
Williams, D. A. R.
Dupuy, P.-M.
Decided in favour of investor
1735.00 mln USD
713.00 mln USD
Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Full protection and security, or similar
Most-favoured nation treatment
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Full protection and security, or similar
Most-favoured nation treatment
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Judicial review by national courts
Judicial review by national courts
Award/decision upheld
https://icsid.worldbank.org/en/Pages/cases/casedetail.aspx?CaseNo=ARB(AF)/09/1
http://globalarbitrationreview.com/news/article/32995/miner-strikes-gold-venezuela-claim/ (requires subscription)
http://www.businesswire.com/news/home/20150129006399/en/Paris-Court-Appeal-Rules-Recognize-Gold-Reserve%E2%80%99s
http://www.iareporter.com/articles/venezuela-fails-in-effort-to-block-confirmation-of-700-million-award-in-d-c-as-judge-is-unconvinced-of-due-process-failings-in-icsid-arbitration/ (requires subscription)
http://www.iareporter.com/articles/billion-dollar-arbitral-award-rendered-in-claim-brought-by-rusoro-mining-against-venezuela/ (requires subscription)
http://www.stockhouse.com/news/press-releases/2016/08/08/bolivarian-republic-of-venezuela-agrees-to-pay-gold-reserve-arbitral-award-and
http://globalarbitrationreview.com/article/1067495/venezuela-to-pay-gold-reserve-award-in-full (requires subscription)
http://www.whitecase.com/ppolasek/#.VOdjfPnF98E
https://www.iareporter.com/articles/analysis-a-look-at-the-paris-court-of-appeals-reasons-for-upholding-icsid-award-in-gold-reserve-case/ (requires subscription)
http://www.goldreserveinc.com/the-paris-court-of-appeal-decides-in-favor-of-gold-reserve-inc-17-3/
http://globalarbitrationreview.com/news/article/32995/miner-strikes-gold-venezuela-claim/ (requires subscription)
http://www.businesswire.com/news/home/20150129006399/en/Paris-Court-Appeal-Rules-Recognize-Gold-Reserve%E2%80%99s
http://www.iareporter.com/articles/venezuela-fails-in-effort-to-block-confirmation-of-700-million-award-in-d-c-as-judge-is-unconvinced-of-due-process-failings-in-icsid-arbitration/ (requires subscription)
http://www.iareporter.com/articles/billion-dollar-arbitral-award-rendered-in-claim-brought-by-rusoro-mining-against-venezuela/ (requires subscription)
http://www.stockhouse.com/news/press-releases/2016/08/08/bolivarian-republic-of-venezuela-agrees-to-pay-gold-reserve-arbitral-award-and
http://globalarbitrationreview.com/article/1067495/venezuela-to-pay-gold-reserve-award-in-full (requires subscription)
http://www.whitecase.com/ppolasek/#.VOdjfPnF98E
https://www.iareporter.com/articles/analysis-a-look-at-the-paris-court-of-appeals-reasons-for-upholding-icsid-award-in-gold-reserve-case/ (requires subscription)
http://www.goldreserveinc.com/the-paris-court-of-appeal-decides-in-favor-of-gold-reserve-inc-17-3/