You can be sure that the lawyers Venezuela use to run their side of the case, will bring up every possible defence including environmental laws and the failure of KRY to come up with a plan that fulfilled their requirements.

However providing the original proposals meet a reasonable standard using world wide norms or UN guidelenes this should be pretty easily disposed with. GRZ used the "Equatorial Principles" guidelines http://en.wikipedia.org/wiki/Equator_Principles in preparing their proposal for the Brisas projects, and those principles actually exceed the requirements of Venezuelan law. I assume KRY would have adhered to some similar yardstick (if not the same one) to have an independant accepted standard and so avoid arguments as to the validity or suitablity of some obscure Venezuelan rule or law.