Agroinsumos Ibero-Americanos and others v. Venezuela Agroinsumos Ibero-Americanos, S.L., Inica Latinoamericana, S.L., Proyefa Internacional, S.L., Verica Atlántica, S.L. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/16/23)
Venezuela, Bolivarian Republic of
Majority shareholding in agriculture and food enterprises: Agroisleña, C.A., Sucesora de Enrique Fraga Afonso, Insecticidas Internacionales, C.A., Proyefa, C.A., and Venezolana de Riego, C.A.
Claims arising out of the Governmental Decree No. 7.700 of 2010 that nationalized all assets of the Agroisleña Group and of associated agriculture and food companies in which the claimants held majority interests. The Government allegedly ordered a series of additional judicial and administrative measures to take control over the companies, including the occupation of company premises, removal of the management boards and appointment of new directors.
Primary: A - Agriculture, forestry and fishing
1 - Crop and animal production, hunting and related service activities
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Zuleta, E.
Grigera Naón, H. A.
Bottini, G.
Decided in favour of investor
Award dated 23 March 2022
Partial Dissenting Opinion by Gabriel Bottini
Decision on Claimant’s request for supplementary decision and rectification of the award dated 12 July 2022
Data not available
1630.00 mln USD
Direct expropriation
Direct expropriation
ICSID annulment proceedings
ICSID annulment proceedings