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Guaidó's lawyers intend to cancel arbitration with ConocoPhillips



16 April 2019 22:17
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Updated on April 16, 2019 22:52

Legal representatives of interim president Juan Guaido in the United States intend to overturn arbitration of $ 8.7 billion from the US oil company ConocoPhillips, reports Reuters.

The Public Prosecutor of the Republic, appointed by the National Assembly, Jose Ignacio Hernandez, assured that the methodology used to determine the amount is incorrect, so it will be evaluated to challenge the proposed amount.

A US judge last month ruled that Guaido's lawyers could argue in court with the mining company Crystalx, which claims that Cigoo Petrolum Corporation is part of the compensation for expropriation of a gold project in Venezuela, ordered by President Hugo Chavez.

The US government has expressed its support to Guaido before these legal processes.

With information from Reuters


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