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IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF TRANSOCEANIC EXPLORATION COMPANY and PETROTIMOR COMPANY DE PETROLEUM, S.A.R.L., Plaintiffs, v. CONOCOPHILLIPS, et al., Defendants.) )) )) )) )) )) )) )Case
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The ConocoPhillips v. Venezuela decision refers to a legal ruling in which the International Chamber of Commerce (ICC) awarded ConocoPhillips compensation after Venezuela expropriated its oil assets in the country without fair compensation. The ruling underscores issues of international investment arbitration and state sovereignty.
The entities involved in the arbitration, primarily ConocoPhillips and the Venezuelan government, are required to file the relevant documents related to the decision.
To fill out documentation related to the ConocoPhillips v. Venezuela decision, parties must provide detailed information regarding the case, the nature of the claims, evidence of the investment, and the compensation sought as per the ICC ruling.
The purpose of the ConocoPhillips v. Venezuela decision is to resolve disputes between investors and the host state regarding expropriation and compensation, thereby ensuring that foreign investments are protected under international law.
The information that must be reported includes the details of the investment, circumstances of expropriation, valuation methodologies, and justification for the compensation claimed.
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