In Serafín García Armas and Karina García Gruber v. Venezuela, a PCA-administered tribunal under the 1995 Spain-Venezuela BIT faced a jurisdictional challenge that escalated through the French courts. The dispute was initiated by dual Spanish-Venezuelan nationals over measures against their food sector investments. The Paris-seated tribunal, composed of Eduardo Grebler (President), Guido Santiago Tawil, and Rodrigo Oreamuno Blanco, affirmed its jurisdiction in a preliminary award on December 15, 2014. Venezuela sought to set aside the jurisdictional award before the Paris Court of Appeal, which led to a protracted legal battle involving a partial annulment, a subsequent quashing of that decision by the Cour de Cassation, and a remittal back to the Court of Appeal. During this period, Venezuela also unsuccessfully challenged the claimants' appointed arbitrator, Guido Santiago Tawil, in a 2018 decision by the PCA's designated appointing authority. Ultimately, in a judgment of June 27, 2023, the Court of Appeal rejected Venezuela's challenge, a decision that was subsequently confirmed when the Cour de Cassation dismissed Venezuela's final appeal on May 6, 2026, definitively upholding the tribunal's jurisdiction. While the jurisdictional challenges were ongoing, the arbitral tribunal proceeded to the merits. In a separate procedural track, Venezuela also filed two applications in 2016 asking the arbitral tribunal itself to revise its 2014 jurisdictional award, alleging that the claimants had committed fraud by submitting forged corporate documents. In a decision issued on the same day as the Final Award, April 26, 2019, the tribunal dismissed these applications for revision as inadmissible. It found them to be untimely under both the parties' procedural agreements and the law of the seat, and noted that Venezuela had already raised the same fraud arguments in the parallel court proceedings, constituting an abuse of process. In its Final Award of April 26, 2019, the tribunal unanimously found Venezuela liable for breaching the BIT. It determined that the series of measures taken against the claimants' companies—including inspections, inventory seizures, and the imposition of an administrative board—were not a legitimate exercise of police powers but constituted an illegal indirect expropriation under Article V. The tribunal also found violations of the Fair and Equitable Treatment standard (Article IV) and the prohibition on arbitrary measures (Article III), characterizing Venezuela's actions as disproportionate and lacking due process. On quantum, the tribunal awarded the claimants a total of approximately USD 214.3 million in damages, plus interest and costs. Venezuela subsequently launched further set-aside proceedings in Paris against both the Final Award and the decision rejecting its applications for revision. In two judgments issued on October 24, 2023, the Paris Court of Appeal dismissed the challenge against the decision on revision. However, in its judgment on the Final Award, the Court partially granted Venezuela's application. It found that a portion of the damages—USD 75.7 million awarded for supplier guarantees—was linked to a proven tax fraud scheme in Chile involving one of the claimants' companies. Holding that enforcing this part of the award would violate international public policy, the Court annulled the corresponding compensation and interest. It rejected all other grounds for annulment, upholding the remainder of the award, which valued the expropriated shares at approximately USD 138.6 million.