Rusoro Mining, a Canadian company, whose main business is the exploration and production of gold, was awarded more than US$1.2 billion in a claim against the Republic of Venezuela. The request for arbitration was made in accordance with the 2006 ICSID Additional Facility Rules and the 1996 Canada – Venezuela Bilateral Investment Treaty (BIT).
Federal Law No. 382-FZ 'On Arbitration (Arbitral Proceedings) in the Russian Federation' and Federal Law No. 409-FZ both came into effect on 1 September 2016. We look at the impact of this legislation.
Angola has ratified the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards. Its ratification was endorsed domestically via resolution No. 38/2016, published in the Official Gazette of Angola on 12 August 2016.