Thursday, September 20, 2018

International Tribunal Rules in Favor of Chevron in Ecuador Case

Posted by September 7, 2018

Chevron Corp said on Friday an international tribunal ruled in its favor and that Ecuador had violated its obligations under international treaties.

The tribunal unanimously held that a $9.5 billion pollution judgment by Ecuador's Supreme Court against Chevron (CVX) "was procured through fraud, bribery and corruption and was based on claims that had been already settled and released by the Republic of Ecuador years earlier."

The tribunal was administered by the Permanent Court of Arbitration in The Hague.

Reporting by Karan Nagarkatti in Bengaluru

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