Arbitration Court Awards Chevron $700 Million In Dispute With Ecuador

Arbitration Court Awards Chevron $700 Million In Dispute With Ecuador

THE HAGUE, Netherlands - The Permanent Court of Arbitration on March 30 issued a partial arbitration award of approximately $700 million for Chevron Corp. and Texaco Petroleum Co. (TexPet), finding that the courts of Ecuador violated international law by delaying ruling on various disputes between TexPet and the government of Ecuador (Chevron Corporation (USA), et al. v. The Republic of Ecuador, UNCITRAL; See December 2008, Page 7). Full story on lexis.com

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