Latest development Sep 11, 2026
Venezuela appealed the D.D.C.’s August 14, 2026 order to the D.C. Circuit.
The award
- Amount awarded
- $20.8M in damages plus $4.8M in costs, with simple interest from May 26, 2014 (as corrected on October 27, 2021)
- Award holder
- Air Canada Inc.
- Respondent
- Bolivarian Republic of Venezuela
- Forum
- ICSID Additional Facility ARB(AF)/17/1 · Canada–Venezuela BIT · seat Paris
Challenges
The Paris Court of Appeal rejected Venezuela’s set-aside application on September 26, 2023. Venezuela argues in the U.S. that the award is unenforceable because the Maduro government, not the 2015 National Assembly, represented it in the arbitration. It appealed the D.D.C. ruling (D.C. Cir. No. 26-7190).
Enforcement
D.D.C. No. 24-cv-2249 (Judge Bates): on August 14, 2026 the court denied Venezuela’s motion to dismiss and granted the petition. Final judgment had not been entered as of October 2026.
Recovered to date
None. Air Canada’s July 2024 petition states that Venezuela has made no payment.