Peruvian businessman Dick Fernando Abanto Ishivata has
initiated arbitration proceedings against the Bolivarian Republic of Venezuela
at the International Centre for Settlement of Investment Disputes (ICSID). The
request for arbitration, relying on the ICSID Additional Facility Rules and the
1996 Peru-Venezuela bilateral investment treaty (BIT), was registered at ICSID
on November 6, 2018. Meanwhile, as we discuss below, Irish packaging
manufacturer Smurfit Kappa has announced its intention to pursue a separate
claim against Venezuela under an unspecified BIT. More…
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