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August 5, 2015

U.S. Appeals Court Sides With Chevron in Ecuadorian Dispute

In the latest development in the years-long dispute between Chevron Corp. and the Ecuadorian government, a U.S. appeals court on Tuesday rejected Ecuador’s challenge to a 2011 international arbitration award in favor of Chevron for $96 million.

Chevron initiated the original arbitration proceeding at The Hague’s Permanent Court of Arbitration in 2006, arguing that Ecuadorian courts took too long to resolve lawsuits against Texaco Petroleum Co., which Chevron had acquired, in breach of a 1973 contract between the oil company and Ecuador.

This is separate from the infamous lawsuit filed against Chevron by plaintiffs’ attorney Steven Donziger. Chevron is appealing the $9 billion judgment in that case, which was sharply criticized by a U.S. judge in New York as having been secured through through fraud and other misconduct.

Read the full story here.

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