Autopista Concesionada de Venezuela CA v. Bolivarian Republic of Venezuela

Abstract

Applicable law — Choice of law — Whether choice of law exclusive — ICSID Convention, Article 42(1)

Contract — Breach of contract — Force majeure — Whether force majeure valid excuse for non-performance — Whether force majeure event unforeseeable

Contract — Breach of contract — Termination — Whether party entitled to terminate contract

Damages — Calculation of damages — Recovery of expenses — Whether all expenses recoverable — Interest on expenses — Whether pre-Award and post-Award interest recoverable

Damages — Calculation of damages — Loss of profits — Whether loss of profits speculative — Whether loss of profits recoverable — Whether loss of profits precluded by Claimant’s breach — Whether Claimant’s breach material

Interest — Rate of interest — Whether agreed rate of interest applied — Compound interest — Costs