Venezuela Moves To Set Aside Default In $1B Oil Award Suit

( May 14, 2025, 11:04 AM EDT) -- WASHINGTON, D.C. — The Bolivarian Republic of Venezuela filed a motion in District of Columbia federal court to set aside a clerk’s default against it in a November 2023 lawsuit filed by three Exxon Mobil entities seeking to enforce an International Centre for Settlement of Investment Disputes (ICSID) arbitral award worth roughly $1 billion for the expropriation of their oil investments....

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