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International tribunal rules in favor of Chevron in Ecuador case

Author: Karan Nagarkatti, Gary McWilliams, Reuters, Published on: 7 September 2018

...The tribunal unanimously held that a $9.5 billion pollution judgment by Ecuador’s Supreme Court against Chevron “was procured through fraud, bribery and corruption and was based on claims that had been already settled and released by the Republic of Ecuador years earlier.”...Ecuador plans to appeal the tribunal’s ruling, challenging the decision in part on its findings of judicial fraud in the case, Inigo Salvador, Ecuador’s attorney general, said...The tribunal, administered by the Permanent Court of Arbitration in The Hague, will next conduct a trial to determine the damages suffered by Chevron...Chevron estimated its damages and legal costs would run “hundreds of millions of dollars,” said spokesman Sean Comey...

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