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12 Mär 2015

H. A. Grigera, V. Lowe & V.V. Veeder, Permanent Court of Arbitration

Decision on Track 1B (Chevron & Texaco v. Ecuador) PCA Case No. 2009-23

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...By this decision in Track 1B of this arbitration, the Tribunal addresses a further part of the Parties’ dispute concerning the legal effect of the 1995 Settlement Agreement...made between the Second Claimant (“TexPet”) and the Respondent as signatories....[A]s regards the said Issue (ii) in Track 1B of this arbitration, the Tribunal decides (but does not award) that: (1) The Lago Agrio Complaint of...2003...included individual claims resting upon individual rights under Ecuadorian law, not falling within the scope of the 1995 Settlement Agreement (as invoked by the Claimants); (2) The Lago Agrio Complaint was not wholly barred at its inception by res judicata, under Ecuadorian law, by virtue of the 1995 Settlement Agreement (as invoked by the Claimants); and (3) The Lago Agrio Complaint included individual claims materially similar, in substance, to the individual claims made by the Aguinda Plaintiffs in New York...

Part of the following timelines

Hague tribunal rules for Ecuador in investment arbitration with Chevron; govt.’s settlement with firm did not preclude oil pollution case by Ecuadorian plaintiffs

Texaco/Chevron lawsuits (re Ecuador)