2010
Flughafen Zürich v. Venezuela Flughafen Zürich A.G. and Gestión e Ingenería IDC S.A. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/10/19)
Venezuela, Bolivarian Republic of
Switzerland

Chile
Rights as consortium members to administer, manage and operate the Isla Margarita airport under a contract with the state of Nueva Esparta.
Claims arising out of the Government's alleged expropriation of claimants' concession to operate an airport on Isla Margarita through three administrative acts undertaken by the government of Nueva Esparta and two resolutions issued by the Supreme Court.
Tertiary: H - Transportation and storage
Tertiary: H - Transportation and storage
51 - Air transport
52 - Warehousing and support activities for transportation
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Fernández-Armesto, J.
Álvarez, H. C.
Vinuesa, R. E.
Decided in favour of investor
79.00 mln CHF (82.20 mln USD)
19.40 mln USD
Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures
Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
ICSID annulment proceedings
ICSID annulment proceedings
Award/decision upheld
Decision on Annulment dated 15 April 2019
Castellanos Howell, A. R. (President)

Zusman Tinman, S. (Member)

Urrutia Valenzuela, C. (Member)