THE ICSID GOLD RESERVE CASE ON THE UNLAWFUL TERMINATION OF MINING CONCESSIONS IN VENEZUELA. Legal Expert Opinions and Arbitral Award

This book on the Gold Reserve case, contains the Expert Legal Opinions on Venezuelan Law, filed on September 15, 2010 and July 28 2011, by Professor Allan R. Brewer-Carías before the ICSID Arbitral Tribunal in the arbitral investment process originated in the unlawful unilateral termination, in 2007, of two gold mining concessions previously granted in 1988 and 1998 to the Compañia Aurífera Brisas del Cuyuní, C.A., indirectly owned by a Canadien company, Gold Reserve Inc. The ICSID Tribunal issued an extensively motivated Award on September 22nd, 2014, which is also published in the book, concluding that such unilateral termination of the concessions was unlawful pursuant to Venezuelan Law, and in addition, issued in breach of the BIT between Canada and Venezuela for the Promotion and Protection of Investments of January 28th, 1998 (BIT), for failing to grant fair and equitable treatment to the Claimant, granting it an important amount as compensation. The main legal discussion between the parties in this case considered by the ICSID Tribunal, focused on the main principles of Venezuelan administrative law applicable to administrative procedure and concessions: positive administrative silence, reversal of administrative acts, mining concessions, legitimate expectation, and the environmental regime regarding mining exploitation.