Venezuela Wants $490M Award Tossed In Glassmaker Row

By Christopher Crosby (September 28, 2017, 2:05 PM EDT) -- Venezuela told a D.C. federal judge on Wednesday that OI European Group BV can't enforce a $490 million award issued against it by the International Centre for the Settlement of Investment Disputes because the glassmaker, which accused the South American country of expropriating its factories without providing adequate compensation, sold its underlying claim to an Irish investment fund.

The South American country accused the company of intentionally concealing the fact that it sold the right to enforce the award to an unnamed Irish investment fund for $115 million cash from the courts, information it gleaned from OIEG's U.S. Securities and Exchange...

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