World Bank Tribunal Dismisses Brandes Case Against Venezuela
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An international arbitration panel dismissed a claim by Brandes Investment Partners against Venezuela seeking damages for the forced sale of its stock in the nationalization of the country’s phone company, state-oil company Petroleos de Venezuela SA said today in a statement.
A panel at the World Bank’s International Centre for Settlement of Investment Disputes agreed with Venezuela that it lacked jurisdiction to resolve the dispute, putting an end to a case filed in 2008, according to the statement.