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24 Sep 2009

Luke Eric Peterson, Editor & Publisher of Investment Arbitration Reporter, on Kluwer Arbitration Blog

Chevron goes all-in against Ecuador; New claim reflects latest BIT usage

For those wondering what the state of the art looks like in the realm of bilateral investment treaty arbitration, you could do worse than browse the Notice of Arbitration filed yesterday in the Chevron v. Ecuador case. The underlying dispute is a much-publicized one, tracing its roots to a long-running multi-forum battle over liability for environmental damage arising out of Amazonian oil production. Yesterday, Chevron upped the ante by suing Ecuador for various breaches of the US-Ecuador BIT in relation to the government’s posture towards (and alleged interference in) a massive civil claim which could put Ecuador on the hook for many Billions in environmental remediation costs.

Part of the following timelines

Chevron files claim against Ecuador at the Permanent Court of Arbitration in connection with environmental damage lawsuit

Texaco/Chevron lawsuits (re Ecuador)