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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