Judge Rules Venezuelan Iron Ore Company an Agency or Instrumentality of Venezuela in $350 Million Mining Dispute

Léalo en Español aquí MIAMI – October 6, 2016 — United States District Judge Andrew Carter of the Southern District of New York recently ruled that Venezuela’s iron ore company C.V.G. Ferrominera Orinoco, C.A. (FMO) is an “agency or instrumentality” of the Bolivarian Republic of Venezuela. The court’s determination could potentially derail a $350 million…

Foreign Direct Investment in Venezuela

Economic and political instability, nationalization, increasing government intervention, and restrictive legal framework has made Venezuela’s investment climate considerably less welcoming as compared to the past. This article examines the current challenges for foreign investment in Venezuela. It also provides an update on Mobil Corporation and others v. Bolivarian Republic of Venezuela, in which an International…