- In Brief: ICSID declines jurisdiction over dispute brought by trustee (Blue Bank v Venezuela)
- Original news
- Why is the award of interest to practitioners?
Arbitration analysis: In an award dated 27 April 2017, the tribunal in the International Centre for Settlement of Investment Disputes (ICSID) arbitration proceedings between Blue Bank International & Trust (Barbados) (the claimant) and Venezuela (the respondent) found that ICSID did not have jurisdiction and the tribunal did not have competence to adjudicate the dispute between the parties. The award will be of interest to practitioners as, among other matters, it considered whether the trustee had made an investment into Venezuela.
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