French Court Dismisses Venezuela's Appeal in Investment Treaty Case

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Three Crowns LLP Crowns is delighted to share that the French Court of Cassation has dismissed the Bolivarian Republic of Venezuela’s appeal concerning the investment treaty award obtained by Serafín García Armas and Karina García Gruber under the Spain-Venezuela bilateral investment treaty. On 7 October 2026, the Court of Cassation rejected Venezuela’s challenge to the 2023 judgment of the Paris Court of Appeal, which had largely upheld the final award rendered by a Paris-seated UNCITRAL tribunal in 2019. The decision brings to a close the French court proceedings in a dispute spanning more than a decade. The case has made a lasting contribution to French case law on investment treaty arbitration. Three Crowns acted for the investors as part of a wider counsel team, working alongside Jérôme Ortscheidt, avocat au Conseil d’État et à la Cour de cassation, before the Court of Cassation. The Three Crowns team was led by Shaparak Saleh (Paris), alongside Eugénie Wrobel (Paris). #InternationalArbitration #InvestorState

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