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Venezuela Withdraws from the World Bank’s Arbitration Body

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by Victoria VanBuren

Wednesday, Feb 22, 2012


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As NPR reports, on January 24, 2012,Venezuela announced its withdrawal from the Convention on the Settlement of Investment Disputes (the “ICSID” Convention). In accordance with Article 71 of the ICSID Convention, the denunciation will take effect six months after the receipt of Venezuela’s notice, i.e., on July 25, 2012. The ICSID website lists 17 pending cases against Venezuela.

Read the NPR article here.

 

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About Victoria VanBuren

Born and raised in Mexico, Victoria is a native Spanish speaker and a graduate of the Monterrey Institute of Technology (Instituto Tecnologico y de Estudios Superiores de Monterrey), or "the MIT of Latin America." She concentrated in physics and mathematics. Immediately after completing her work at the Institute, Victoria moved to Canada to study English and French. On her way back to Mexico, she landed in Dallas and managed to have her luggage lost at the airport. Charmed by the Texas hospitality, she decided to stay and made her way back to Austin, which she's adopted as home.

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About Disputing

Disputing is published by Karl Bayer, a dispute resolution expert based in Austin, Texas. Articles published on Disputing aim to provide original insight and commentary around issues related to arbitration, mediation and the alternative dispute resolution industry.

To learn more about Karl and his team, or to schedule a mediation or arbitration with Karl’s live scheduling calendar, visit www.karlbayer.com.

About Disputing

Disputing is published by Karl Bayer, a dispute resolution expert based in Austin, Texas. Articles published on Disputing aim to provide original insight and commentary around issues related to arbitration, mediation and the alternative dispute resolution industry.

To learn more about Karl and his team, or to schedule a mediation or arbitration with Karl’s live scheduling calendar, visit www.karlbayer.com.

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