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7 Nov 2012

Guido Nejamkis & Eduardo Garcia, Reuters

Argentine judge embargoes $19 bln Chevron assets

An Argentine judge has embargoed up to $19 billion in Chevron assets in connection with an environmental lawsuit by Ecuadorean villagers, a lawyer for the plaintiffs said…An Ecuadorean court last year ordered Chevron Corp to pay the enormous sum for contamination of watersheds over nearly 30 years that the plaintiffs say sickened indigenous tribespeople and farmers in the Ecuadorean Amazon. Chevron has refused to make any payments and accuses Ecuadorean courts of fraud…The plaintiffs' lawyer…said the ruling by [the] Argentine judge…includes an embargo on 40 percent of Chevron's Argentine oil revenue…Chevron…said it was not aware of any Argentine court order and reiterated its position that the Ecuador ruling is unenforceable.

Part of the following timelines

Argentinian judge freezes Chevron's assets following filing by plaintiffs in Ecuadorian oil pollution lawsuit seeking to collect $19 billion judgment

Texaco/Chevron lawsuits (re Ecuador)