Venezuela likely to seek annulment in $455 mln Owens-Illinois award-lawyer
CARACAS, March 12 (Reuters) - Venezuela is likely to seek the annulment of a World Bank tribunal award that orders it pay U.S. bottle maker Owens-Illinois $455 million in compensation for nationalization, a lawyer for the South American country said on Thursday.
Owens-Illinois announced earlier on Thursday that the World Bank's International Center for Settlement of Investment Disputes (ICSID) had issued a decision in the case.
"It's probable that an annulment or other revisions will be sought," said lawyer Diego Brian Gosis with Argentine firm Guglielmino & Asociados, adding that Venezuela has 120 days to request an annulment. (Reporting by Alexandra Ulmer; Editing by Jonathan Oatis)
© Thomson Reuters 2016 All rights reserved.