Gold Reserve Inc. v Bolivarian Republic of Venezuela

Arbitration – Award. The Commercial Court held, among other things, that, on the evidence, the claimant had been an investor, within the meaning of a bilateral agreement between Venezuela and Canada and therefore entitled to arbitrate a claim against Venezuela concerning mining concessions and mining rights. Consequently, Venezuela had lost its right to rely on state immunity in proceedings brought by the claimant to enforce an award of the arbitral tribunal in Paris. Further, s 12(1) of the State Immunity Act 1978 did not require the service of the arbitration claim form on Venezuela in the manner contended.

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