March 9, 2017 / 11:03 PM / a year ago

Venezuela lawyer says $1.4 bln Exxon damages award overturned

CARACAS, March 9 (Reuters) - A World Bank tribunal order for Venezuela to pay $1.4 billion in damages to Exxon Mobil Corp over nationalizations has been annulled, a lawyer for the government said on Thursday.

When asked to confirm the news, Venezuela’s lawyer, George Kahale, told Reuters by email: “Yes ... We were confident all along that our position was correct and are very pleased that the annulment committee agreed.”

There was no immediate confirmation by the World Bank or Exxon. (Reporting by Alexandra Ulmer; Writing by Andrew Cawthorne; Editing by Sandra Maler)

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