Gold Reserve Inc. v. Bolivarian Republic of Venezuela, ICSID Case No. ARB (AF)/09/1

A 2014 ICSID arbitration held in Washington D.C. that resulted in an award of US$ 713,032,000 in compensation plus interest to the claimant, Gold Reserve Inc (Canada), due to Venezuela’s violation of the fair and equitable treatment provision in its 1996 bilateral investment treaty (BIT) with Canada. The dispute concerned claims arising out of the Republic of Venezuela’s alleged deprivation of Gold Reserve Inc.’s rights in certain gold and copper mine projects.