Latin American Herald-Tribune
With this latest suit from one of the world’s largest mining conglomerates, Venezuela now has 28 cases pending against it at the World Bank’s ICSID arbitration forum — the most of any nation in the world.
Global mining company Anglo American PLC has become the latest corporation to file suit against Venezuela over its treatment of investors.
The World Bank’s International Center for the Settlement of Investment Disputes (ICSID) has accepted a request for arbitration against Venezuela filed by Anglo American’s lawyers, powerhouse international law firms Baker & McKenzie and Freshfields Bruckhaus Deringer.
Anglo American says that Venezuela’s actions regarding the Loma de Niquel mining concession breached the UK-Venezuela Bilateral Investment Treaty.