Hughes, Fields and Stoby successfully secures order to enforce arbitral award against PDVSA in Guyana
Philps Petroleum Venezuela and ConocoPhillips Gulf of Paria applied and were granted orders from the High Court to enforce an arbitral award against PDVSA for in excess of $54M USD.
The application was opposed by the Attorney General of Guyana who claimed that enforcement of the judgment had foreign policy implications for Guyana.
Guyana had been the recipient of Petrocaribe funds under a special arrangement with Venezuela and held various sums for the credit of Venezuela under the arrangement.
The Attorney General appealed the order of Justice Persaud to enforce the order.
The Full Court of Appeal dismissed the Attorney General’s appeal.
The judgments of both courts can be found under the Recent decisions on this webpage.
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