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16 Mär 2011

Mercedes Alvaro, Dow Jones

Chevron Appeals to Proceed in Ecuador

The Ecuadorian Provincial Court of Sucumbios has accepted appeals, by both Chevron Corp. and the Ecuadorian plaintiffs, to the multibillion-dollar judgment against the U.S. company…The 18-year old lawsuit against Chevron claims the company was responsible for oil contamination in Ecuador's Amazon region. Chevron…inherited the suit in 2001 when it acquired Texaco Inc...[T]he plaintiffs suing Chevron appealed the ruling, asking for the awarded amount to be increased on the grounds it will not cover the damages identified by the court, as well as other damages not identified in the ruling. Chevron, which has denied the accusations against it and said it is victim of a massive fraud and extortion scheme, also appealed…ruling…