Rigzone is reporting:
An arbitration panel in The Hague said Ecuador should have prevented
plaintiffs in a $19 billion award against Chevron Corp. from taking
their battle to other countries, and needs to justify why its government
shouldn't be held responsible for the costs.
In 2012, an Ecuadorian court ruled Chevron was responsible for
environmental damages in that country's Amazon region, a decision the
oil company is contesting. The international tribunal, which is studying
the issue of whether the ruling constitutes a violation of a bilateral
investment treaty between the U.S. and Ecuador, had asked the country to
keep the plaintiffs from suing Chevron in foreign courts while the
appeal was pending. But the plaintiffs filed lawsuits against Chevron
assets in Canada, Argentina and other countries--a move the tribunal
decided was a breach of Ecuador's obligations and of its previous
rulings. Now the tribunal is asking the country's government why it
shouldn't be held responsible for the harm done by the lawsuits filed by
the plaintiffs outside Ecuador.
The house of cards is starting to fall.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.