ICSID issues award in favor of Tenaris on the nationalization of Tavsa and Comsigua by Venezuela
LUXEMBOURG--(Marketwired - Dec 13, 2016) - Tenaris S.A. (
Tenaris and Talta initiated the arbitration proceedings on July 20, 2012 pursuant to the bilateral investment treaties entered into by Venezuela with the Belgium-Luxembourg Economic Union and Portugal. On December 12, 2016, the ICSID Arbitral Tribunal released its final Award in favour of Tenaris and Talta, upholding their claim that Venezuela had expropriated their investments in Tavsa and Comsigua in violation of the bilateral investment treaties entered into by Venezuela with the Belgium-Luxembourg Economic Union and Portugal. The award granted Tenaris and Talta compensation in the amount of US$137.0 million for the breaches and US$24.6 million in pre-award interest. In addition, Venezuela was ordered to reimburse Tenaris and Talta US$3.3 million in legal fees and ICSID administrative costs.
Tenaris is a leading global supplier of steel tubes and related services for the world's energy industry and certain other industrial applications.
Information om Marketwired
Følg pressemeddelelser fra Marketwired
Skriv dig op her og modtag pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Marketwired
Bombardier Transportation28.5.2018 18:18 | pressemeddelelse
Bombardier Presents the New TRAXX DC3 Locomotive
Bombardier Transportation15.5.2018 02:51 | pressemeddelelse
Bombardier's Real-Time Passenger Load Display Software Solution Launches in Singapore
Bombardier Inc.3.5.2018 22:49 | pressemeddelelse
Bombardier Announces the Election of its Board of Directors, Pays Tribute to Former CEO and Chairman Laurent Beaudoin
Bombardier Inc.3.5.2018 14:04 | pressemeddelelse
Bombardier Reports First Quarter 2018 Results, Announces Sale of Downsview Property and plans for new Centre of Excellence for Global Aircraft
Bombardier Inc.2.5.2018 16:22 | pressemeddelelse
REMINDER/Media Advisory: Bombardier to Report its First Quarter 2018 Financial Results and to Hold its Annual Meeting of Shareholders on Thursday, May 3
Bombardier Inc.23.4.2018 22:11 | pressemeddelelse
Media Advisory: Bombardier to Report its First Quarter 2018 Financial Results and to Hold its Annual Meeting of Shareholders on Thursday, May 3
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum