Ecuador’s highest court upheld a verdict that US oil company Chevron Corp is responsible for pollution in an Amazon rainforest, but halved the fine imposed in a previous trial to $9.5 billion, a decision the company dismissed as illegitimate.
In an apparent coup for the oil giant’s efforts to undermine a $19 billion environmental judgment in Ecuador, an international tribunal has suggested that the Ecuadorians’ claims in that case were all settled and extinguished in 1995
Argentina’s Supreme Court revoked a US$19 billion embargo on the assets and future income of Chevron Corp.’s Argentina subsidiary, giving the US oil giant a victory in a decades-old battle with indigenous groups in Ecuador.
The World Bank’s International Center for the Settlement of Investment Disputes has handed down a ruling against the Ecuadorian government, finding that it “unlawfully expropriated” U.S. firm Burlington Resources’ investments in two oil blocks.
L’Equateur a annoncé officiellement le 8 octobre 2012 qu´il exigera l’annulation de la dernière décision du Centre International pour le Règlement des Différends Relatifs aux Investissements (CIRDI) communiquée le 5 octobre 2012
Ecuador’s Attorney General said Monday his office is preparing the legal basis to contest an international court ruling that ordered the country to pay $1.77 billion plus interest to Occidental Petroleum Corp.
Ecuador officially announced on 8 October 2012 that it will request the annulment of the recent decision of the International Centre for the Settlement of Investment Disputes (ICSID) which was communicated on 5 October 2012 (ICSID Decision ARB/06/11).