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Chevron Bid to Dismiss $18 Billion Judgment Rejected in Ecuador

Author: Karen Gullo & Mark Chediak, Bloomberg, Published on: 4 January 2012

Chevron Corp.’s effort to overturn an $18 billion judgment against it was rejected by an Ecuador appeals court in a lawsuit alleging the company is responsible for chemicals spilled in the Amazon River basin more than 20 years ago. The “adverse ruling” upholding the lower-court judgment was issued by a panel of three judges in the Provincial Court of Justice of Sucumbios…, Chevron said in [a]…statement yesterday. Chevron appealed a February ruling that it was responsible for chemical-laden wastewater dumped in jungle land from 1964 to about 1992 by Texaco Inc., which Chevron acquired in 2001…The appeals court ratified the February ruling “in all of its parts, including the conviction for moral reparation or its alternative and costs,” according to the decision. [also refers to Petroecuador]

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Related companies: Chevron Petroecuador Texaco (part of Chevron)