Mobil Cerro Negro, Ltd. v. Bolivarian Republic of Venezuela

District Court, District of Columbia·Decided September 26, 2025·No. Civil Action No. 2023-3506·Published

Opinion

UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA

MOBIL CERRO NEGRO, LTD., et al., Petitioners, v. Case No. 1:23-cv-3506-RCL

BOLIVARIAN REPUBLIC OF VENEZUELA,

Respondent.

MEMORANDUM OPINION

This action arises out of an attempt by Petitioners Mobil Cerro Negro, Ltd., Venezuela Holdings, B.V., and Mobil Cerro Negro Holding LLC (together, “the petitioners”), to enforce an arbitration award rendered by the International Centre for the Settlement of Investment Disputes (“ICSID”) against the Bolivarian Republic of Venezuela (“Venezuela”) under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (“the ICSID Convention”) and its implementing legislation. Because Venezuela did not appear in this case for nearly eight months following its commencement, the Clerk of Court has noted Venezuela’s default. Venezuela has now appeared, represented by lawyers associated with Juan Guaidó, a former claimant to the contested presidency of Venezuela, as explained further below. Now before the Court are the petitioners’ Motion for Default Judgment, see ECF No. 16, Venezuela’s Motion to Set Aside the Default, see ECF No. 25, the petitioners’ Motion for Summary Judgment, see ECF No. 27, and Venezuela’s Cross-motion for Summary Judgment, see ECF No. 32.

The federal statutes implementing the ICSID Convention treat federal courts “as courts of enforcement, not review,” and “[b]y design, any review of the merits of an ICSID Arbitral

Tribunal’s decision occurs internally.” Valores Mundiales, S.L. v. Bolivarian Republic of Venez., 87 F.4th 510, 518 (D.C. Cir. 2023). Thus, because Congress “did not intend federal courts to re-open the merits of ICSID awards,” respondents like Venezuela who dispute an ICSID Tribunal’s decision in enforcement proceedings face a steep uphill battle. Id. at 520. In these proceedings, Venezuela faces more than the usual challenges associated with relitigating an ICSID award. That is because the core argument Venezuela raises as to how it might prevail on the merits—that the ICSID panel lacked jurisdiction to enter the award because it allowed the government of Nicolás Maduro, and not Juan Guaidó, to represent Venezuela in the arbitral proceeding—is squarely foreclosed by the reasoning in Valores Mundiales, a binding D.C. Circuit precedent.

As this decision explains, the fact that Venezuela’s argument fails as a matter of law places the Court in a seeming predicament. When determining whether to set aside an entry of default, courts must give weight to whether the movant could raise a meritorious defense, and here, as the Court will explain, Venezuela has none. Thus, setting aside Venezuela’s default and requiring litigation on the merits would not only direct the parties to beat a dead horse, but in doing so, would also work prejudice on the petitioners by delaying their opportunity to participate in the race among judgment debtors to collect on Venezuela’s finite foreign assets. Koch Mins. Sàrl v. Bolivarian Republic of Venez., 514 F. Supp. 3d 20, 41–42 (D.D.C. 2020). Nonetheless, judicial policy strongly favors resolution of cases on their merits, and particularly scorns “the entry of default judgment against a foreign state that has appeared in the case and expressed a desire to contest the claims.” Id. at 32 (citation omitted); see also Owens v. Republic of Sudan, 374 F. Supp. 2d 1, 9 (D.D.C. 2005). That is because “[i]ntolerant adherence to default judgments against foreign states could adversely affect [the United States’] relations with nations and undermine the State

Department’s continuing efforts to encourage foreign sovereigns to resolve disputes within the United States’ legal framework.” Khochinsky v. Republic of Poland, 1 F.4th 1, 7 (D.C. Cir. 2021) (citation omitted).

Ultimately, Venezuela presents identical—and thus, equally unavailing—arguments in favor of both setting aside the default and in support of its cross-motion for summary judgment. For the reasons that follow, the Court concludes that the best course for balancing judicial policy and fairness to the parties, in light of the binding precedent in Valores Mundiales, is to GRANT Venezuela’s Motion to Set Aside Default; DENY the petitioners’ Motion for Default Judgment; GRANT the petitioners’ Motion for Summary Judgment; and DENY Venezuela’s Cross-motion for Summary Judgment.

I. BACKGROUND

A. Legal Framework On October 22, 1991, Venezuela signed the Agreement on Encouragement and Reciprocal Protection of Investments Between the Kingdom of the Netherlands and the Republic of Venezuela, Neth.-Venez., Nov. 1, 1993, 1788 U.N.T.S. 45 (“BIT”). See Ex. 1 to Pet’rs’ Mot. for Default J. at 2, ECF No. 16-2. Article 9(1) of the BIT provides that a concerned party in a dispute between the two states may submit a request for arbitration to ICSID. If a party prevails in arbitration, Article 54 of the ICSID Convention requires that party to enforce its award by seeking a judgment in the courts of member states. Valores Mundiales, 87 F.4th at 513. In the United States, federal courts have exclusive jurisdiction to enforce ICSID awards. See 22 U.S.C. 1650a.

B. The ICSID Arbitration In 2007, the petitioners initiated an ICSID arbitration pursuant to the BIT, alleging that the then-President of Venezuela, Hugo Chávez, expropriated the petitioners’ investments in oil field development in Venezuela. See Award, Ex. 2 to Petrs.’ Mot. ¶¶ 1, 86–87, ECF No. 16-3. On

October 9, 2014, the original arbitral tribunal found that Venezuela had expropriated the petitioners’ property in connection with two such projects — the Cerro Negro Project and the La Ceiba Project — and awarded the petitioners approximately $1.6 billion plus interest. Id. ¶ 404(b). The award consisted of (i) $9,042,482 in compensation for production and export limitations Venezuela implemented affecting the Cerro Negro Project; (ii) $1,411,700,000 in compensation for Venezuela’s expropriation of investments in the Cerro Negro Project; and (iii) $179,300,000 in compensation for expropriation of the La Ceiba Project investment.1 Id. ¶ 404(c)–(d), (f).

Venezuela then sought revision of the award, which the tribunal denied on June 12, 2015.

See Decision on Revision § 5.1, ECF No. 16-3. Following that proceeding, Venezuela sought to annul the original award, and its request was granted in part and denied in part on March 9, 2017. See Decision on Annulment ¶¶ 188–93, ECF No. 16-3. In particular, ICSID annulled the award of $1.411 billion related the Cerro Negro Project expropriation but declined to annul the rest of its original award. Id.

In 2018, the petitioners resubmitted the annulled portion of their claim before another ICSID tribunal. See Resubmission Proceeding Award ¶ 6, ECF No. 16-4. While the Resubmission Proceeding was in early stages, political turmoil befell Venezuela, and ultimately, on January 23, 2019, the State Department recognized Guaidó as the leader of Venezuela, and over fifty nations joined the United States in recognizing Guaidó’s administration as the legitimate government of Venezuela. Around March 27, 2019, ICSID received a letter from José Ignacio Hernández, who identified himself as the Special Attorney General of Venezuela. Preliminary Issue ¶ 8, Ex. 23 to

1 The award also provided that the total sum should be paid to the petitioners “net of any Venezuelan tax,” that they shall accrue “annual compound interest at a rate of 3.25% from 27 June 2007” until such time as payment has been made in full, that the parties would bear their own costs and fees, and that the parties would equally split ICSID’s fees and expenses. See Award, Ex. 2 to Petrs.’ Mot. ¶ 404(g)–(j), ECF No. 16-3.

Declaration of Leilah Bruton (“Bruton Decl.”), ECF No. 26-24. Hernández was “appointed by the Guaidó government.” Id. ¶ 11. The letter purported to instruct ICSID that:

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