Venezuela - Baker & McKenzie International Arbitration Yearbook: 2011-2012

Author(s):

Henry Torrealba

Edmundo Martínez

Gabriel De Jesus

Page Count:

14 pages

Media Description:

PDF from "The Baker & McKenzie International Arbitration Yearbook: 2011-2012"

Published:

March, 2012

Jurisdictions:

Venezuela

Practice Areas:

Responsibility of Arbitrators,

Enforceability of Arbitration Agreements,

UNCITRAL

Author Detail:

Henry Torrealba L. is a Partner in Baker & McKenzie’s Caracas office. He heads the Civil, Commercial and Criminal Litigation Department of the office. He has acted as president of arbitral tribunals and sole or co-arbitrator in several arbitrations before the Arbitration Center of the Caracas Chamber of Commerce.

Edmundo Martínez is a Partner in Baker & McKenzie’s Caracas office. He is a member of the Civil, Commercial and Criminal Litigation Department of the office. He is also a member of the Trademark and International Arbitration Practice Groups of the Firm’s Global Dispute Resolution Practice Group.

Gabriel De Jesus is a Partner in Baker & McKenzie’s Caracas office. He is a member of the Civil, Commercial and Criminal Litigation Department of the office and a member of the Firm’s Global Dispute Resolution Practice Group.

PDF67.93 KB

$40.00

Description:

Originally from Baker & McKenzie International Arbitration Yearbook: 2011-2012

Preview Page

VENEZUELA
Henry Torrealba, Edmundo Martínez, and Gabriel De Jesus

A. LEGISLATION, TRENDS AND TENDENCIES

Commercial arbitration in Venezuela continues to be governed by the Law on Commercial Arbitration (“LCA”), published on April 7, 1998 in Official Gazette No. 36.530. This law is based on the UNCITRAL Model Law. The LCA introduced commercial arbitration in Venezuela, and distinguished between “institutional” and “ad hoc” arbitration. According to LCA Article 2, institutional arbitration is “conducted through the arbitration centers to which this Law refers, or those that may be created by other laws,” whereas ad hoc arbitration is “governed by rules agreed by the parties, without intervention of the arbitration centers.” If the parties elect institutional arbitration, all matters will be governed by the provisions in the arbitration regulations of the arbitration center to which the parties have submitted the controversy. The LCA is not limited to regulating internal or domestic commercial arbitration. Its provisions may also be applied to international commercial arbitration. Some

Table of Contents:

VENEZUELA
Henry Torrealba, Edmundo Martínez, and Gabriel De Jesus

A. Legislation, Trends and Tendencies
B. Cases
B.1 Admissibility of Arbitration
B.2 Consent of the State to International Arbitration
B.3 Enforcement of Awards against State-Owned Entities