Plaintiffs’ hopes for collecting a $19 billion judgment awarded by an Ecuadorean court against Chevron Corp. for oil contamination in the Amazon have suffered another potential setback.
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
In the bewildering array of Latin American and Caribbean trade alliances, the left-of-centre Alba group is probably the one that attracts the least attention outside the region.
Ecuador said it was waiving preferential rights under a US trade agreement to demonstrate its principled approach to the asylum request of former American spy agency contractor Edward Snowden.
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.
On 6 March 2013, Ecuador’s President, Rafael Correa, requested that Ecuador’s legislature approve the denunciation of the bilateral investment treaty (BIT) between the USA and Ecuador.
Ecuador’s president on Saturday said he planned to challenge several bilateral investment treaties after the South American country was ordered to pay billions of dollars in damages by overseas courts.
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.
Ecuador has officially requested the annulment of an international court ruling that ordered it to pay $1.77 billion, plus pre- and post-award interest, to Occidental Petroleum Corp.
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).
The US National Association of Manufacturers is asking the Obama administration to give Ecuador three months to meet the requirements and standards under the US-Ecuador bilateral investment treaty or be removed from the Andean Trade Preference Act.
The arbitral tribunal in Chevron v. Ecuador has taken a series of steps in recent months suggesting that it has a broad view of its authority.
Ecuadorian communities learned from the way that Chevron’s operations flouted environmental law in the 1990’s, that once entrusted to foreign businesses their natural resources are usually squandered.
The Ecuadorian government will try to reach a new trade agreement with the European Union, since in 2013 the benefits the country receives for the Generalised System of Preferences (GSP Plus) will expire.
The Andean Commission of Jurists and five prestigious international law experts from around the world have joined a growing chorus of criticism targeting Chevron’s attempt to use a secret investor arbitration as part of its campaign to evade an $18 billion environmental judgment in Ecuador, according to letters released today.
Ecuador is seeking an “affirmative response” from the European Union to restart trade talks stalled since the government of South America’s seventh-biggest economy stopped negotiations in 2009.
On February 11, Chevron will ask a panel of three private lawyers named as "arbitrators" under the BIT to nullify the entire nine-year Ecuadorian court process that recently found the company liable for $18 billion in clean-up costs.
Chevron Corp., the second-largest U.S. energy company, said it won a $96 million judgment against Ecuador in an international arbitration case stemming from a 1990s oil-export dispute with the Latin American nation.
One of WikiLeaks’ greatest achievements has been to expose the exorbitant amount of influence that multinational corporations have over Washington’s diplomacy.