Institute for Transnational Arbitration’s Post

Our Communications Co-Chair Laura Sinisterra with the help of Christopher Bello (both from Debevoise & Plimpton) reports that Canada’s Gold Reserve, which won a billion-dollar award against Venezuela a decade ago, has threatened the State with a new investment treaty claim worth more than US$7 billion after its mining rights were again revoked. In its latest annual report issued last week, Gold Reserve revealed that it had submitted the notice of dispute in December 2023, invoking Venezuela’s bilateral investment treaty with Canada and Barbados. The dispute relates to a March 2022 decision by Venezuela’s Ministry of Mines revoking the mining rights of Siembra Minera based on alleged non-compliance with regulations.   Read more here: https://lnkd.in/duQXGC8j

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