Chevron Inches Closer to Legal Victory Over Ecuador PollutionPaul M. Barrett
In one of the most geographically profuse pieces of litigation in recent memory, Chevron has taken another step toward escaping a $19 billion pollution verdict imposed in 2011 by a provincial court in Ecuador. The U.S. oil giant’s victory came Tuesday in the form of an interim ruling by an international arbitration panel based in the Hague. The three-person tribunal said the lawsuit that produced the huge verdict—the largest judgment of its kind—lacked a legitimate legal foundation because Ecuador had released the oil company of all potential liability back in the 1990s.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.