Universal v. Venezuela

Universal Compression International Holdings, S.L.U. (“Universal”) brought an ICSID arbitration against the Bolivarian Republic of Venezuela (“Venezuela”) following the nationalization of certain gas compression and power generation assets formerly owned by Universal’s subsidiary in Venezuela in 2009.

Econ One was retained to assist counsel for Venezuela on quantum issues. Dr. Daniel Flores submitted two expert reports that set forth (1) the projection of the cash flows that could have been generated under the gas compression and power generation contracts that Universal’s subsidiary had in Venezuela and (2) the value of the nationalized assets. Dr. Flores also testified at the hearing on this matter. The parties reached a settlement agreement a few weeks after the hearing.