A World Bank tribunal has rejected Venezuela's request to
recuse two arbitrators in a dispute with U.S. oil firm ConocoPhillips linked to
the 2007 nationalization of the company's assets in the OPEC nation. The Oil
Ministry said in March it asked the International Centre for Settlement of
Investment Disputes (ICSID) to remove arbitrators Kenneth Keith and Yves
Fortier from the three-person panel for their "marked attitude against the
Republic." The ICSID's administrative council rejected the request, describing
Venezuela's complaints as "unsubstantiated" and
"irrelevant," according to a document posted on its website More… 
Thursday, July 2, 2015
Venezuela loses bid to recuse arbitrators in Conoco dispute
A World Bank tribunal has rejected Venezuela's request to
recuse two arbitrators in a dispute with U.S. oil firm ConocoPhillips linked to
the 2007 nationalization of the company's assets in the OPEC nation. The Oil
Ministry said in March it asked the International Centre for Settlement of
Investment Disputes (ICSID) to remove arbitrators Kenneth Keith and Yves
Fortier from the three-person panel for their "marked attitude against the
Republic." The ICSID's administrative council rejected the request, describing
Venezuela's complaints as "unsubstantiated" and
"irrelevant," according to a document posted on its website More… 
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