Thursday, November 30, 2017

Koch Industries Takes Venezuela To Court Over $400M Award


A pair of Koch Industries-owned companies Tuesday filed suit in D.C. federal court against the Venezuelan government, seeking to enforce international arbitration awards totaling nearly $400 million related to the South American government’s nationalization of two fertilizer plants in 2010. An International Centre for Settlement of Investment Disputes tribunal awarded Koch Minerals Sàrl, or KOMSA, more than $140 million in October plus $28.4 million in interest for its uncompensated loss of a 25 percent stake in FertiNitro, the owner of two fertilizer plants in José, Venezuela. More…

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