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Guaidó Looks To Nix $500M Tortilla Arbitration Award Feud

Law360 (March 31, 2020, 8:04 PM EDT) -- Venezuela is urging a D.C. federal judge to toss litigation seeking to enforce an arbitral award of more than $500 million to subsidiaries of Mexican tortilla manufacturer Gruma SAB de CV, saying that opposition leader Juan Guaidó's interim government has been wrongly barred from challenging the award.

The country told the court that an International Centre for Settlement of Investment Disputes committee had denied Guaidó and his government the right to participate in the annulment proceedings, "contradict[ing] widespread international recognition of the interim government and condemnation" of current Venezuelan president Nicolás Maduro.

Valores Mundiales SL and Consorcio Andino SL won the award...

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