WASHINGTON (AP) — A federal appeals court has upheld a $96 million arbitration award to Chevron Corp. stemming from a 1990s-era oil contract dispute with the government of Ecuador.
The U.S. Court of Appeals for the District of Columbia Circuit on Tuesday rejected Ecuador’s challenge to the 2011 award from the Netherlands-based international arbitration panel.
The dispute centers on seven contracts that Texaco Petroleum Inc. had with Ecuador in 1991-93. Chevron bought Texaco in 2001.
Chevron claimed that Ecuador had violated provisions of a 1997 investment treaty by failing to resolve lawsuits in a timely fashion. The appeals court agreed with a 2013 ruling from a federal district judge that sided with Chevron.
- Posted August 07, 2015
- Tweet This | Share on Facebook
Court upholds $96M award to Chevron in dispute with Ecuador
headlines Macomb
- Lawyer publishes first of three children’s books
- US government agrees to $138.7M settlement over FBI's botching of Larry Nassar assault allegations
- Owner of twice-sunken Lake Michigan barge pleads guilty to felony
- Woman charged with murder in crash that killed young brother and sister at birthday party
- MDHHS to issue maternal health quality payments to hospitals
headlines National
- New Legalese: You may have heard a deepfake, but what about ‘Twiqbal’?
- From Intake to Outcome: An in-house lawyer’s guide to matter management solutions
- 2 BigLaw firms in merger talks that could produce 1,600-lawyer firm with top 50 revenue
- Send in the paralegals
- Lawyer reprimanded after mistakenly emailing opposing counsel with plan to avoid judge’s call
- ‘I don’t play well’ judge who threatened to track down, jail misbehaving litigant gets tossed from case