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U.S. Supreme Court Backs Chevron in Treaty Dispute with Ecuador
HT Fausta Wertz. Slimy Atty Shakedown loses again. The United States Supreme Court declined to hear an appeal lodged by the government of Ecuador that contested a $96 million arbitration settlement awarded to the American oil company Chevron. Texaco, the company Chevron bought out in 2001, originally filed the suit against the Central American country for breaking from the terms of oilfield development contracts and international agreements. In effect, the highest court in the U.S. upheld a ruling by the U.S. Court of Appeals for the District of Columbia Circuit, which favored Chevron in an arbitration deal issued by The Hague's Permanent Council of Arbitration in the Netherlands. Posted by: Frank G 2016-06-08 |
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