Foreign Sovereign Immunities Act

US Court Blocks Exxon From Forcing Payment From Venezuela

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A US appeals court rejected an effort by ExxonMobil Tuesday to enforce a $188 million judgment against Venezuela for the 2007 nationalization of the company’s heavy oil operations in that country. While the decision did not rule on the merits of the fine, the three-judge appeals panel overturned a US district court decision saying ExxonMobil … Read more

US Supreme Court Hands Venezuela A Win On Expropriations

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Crisis-ridden Venezuela received a bit of good news Monday when the US Supreme Court ruled against an American oil firm whose equipment was expropriated under late president Hugo Chavez. In a unanimous decision, the court rejected the basis of a suit against Venezuela brought by Oklahoma-based Helmerich & Payne International Drilling, which asserted that the … Read more