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2011
Crystallex v. Venezuela Crystallex International Corporation v. Bolivarian Republic of Venezuela (ICSID Case No. ARB(AF)/11/2)
Nationality of the parties
Venezuela, Bolivarian Republic of
Canada
Summary of matters at issue
Rights under a mine operation contract; capital contributions of over USD 300 million.
Claims arising out of the Government's termination of claimant's mine operation contract over a gold deposit situated in Las Cristinas, after it refused to issue an environmental permit allowing extraction to initiate.
Economic sector and subsector
Primary: B - Mining and quarrying
7 - Mining of metal ores
Arbitral rules and administering institution
ICSID AF (ICSID Additional Facility)
ICSID (International Centre for Settlement of Investment Disputes)
Composition of tribunal
Lévy, L.
Gotanda, J. Y.
Boisson de Chazournes, L.
Feliciano, F. P. (replaced)
Status/Outcome of original proceedings
Decided in favour of investor
Decisions rendered
Decision on the Respondent's request to address the objections to jurisdiction as a preliminary question dated 23 May 2012
Amount of compensation
3160.00 mln USD
1202.00 mln USD
IIA breaches alleged/found
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Direct expropriation

Full protection and security, or similar
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Follow-on proceedings
Judicial review by national courts
Judicial review by national courts
Award/decision upheld
Link to Italaw's case page