Year of Claim: 1996

Basis for Claim: Netherlands-Venezuela BIT

Respondent State: Venezuela

Name of Claimant 1: Fedax N.V.

Primary Nationality of Claimant: Netherlands

Tribunal accepted jurisdiction over claim and decided that respondent state violated treaty. Claimant and respondent state then settled on damages of approximately USD 760,000 (including interest) against respondent state. Tribunal split arbitration costs between claimant and respondent state.