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
- Sharing some holiday cheer
- MDHHS shares latest MISEP update demonstrating strong progress and improvements made in keeping children safe
- Task force investigations result in two men arraigned on charges including armed robbery, conducting a criminal enterprise
- Law firm honors local teacher as Exceptional Educator of the Month
- Nessel announces settlements with Lannett and Bausch approaching $18M over conspiracies to inflate prices and limit competition
headlines National
- Inter American University of Puerto Rico School of Law back in compliance with ABA standard
- Chemerinsky: The Fourth Amendment comes back to the Supreme Court
- Reinstatement of retired judge reversed by state supreme court
- Mass tort lawyer suspended for 3 years for lying to clients
- Law firms in Minneapolis are helping lawyers, staff navigate unrest
- Federal judge faces trial on charges of being ‘super drunk’ while driving
