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Article

4 Jan 2014

Author:
Venture Capital Post (USA)

The Hague tribunal reschedules Chevron, Ecuador arbitration claim hearing

The Hague's international arbitration tribunal, hearing a claim from...Chevron...against Ecuador, pushed back a scheduled hearing to February 7 from January 20. A new schedule on how to proceed in the case is expected to be set out at [a] meeting. In 2009, Chevron filed an international arbitration claim against Ecuador...[and] alleged that Ecuador violated its obligations under the United States-Ecuador Bilateral Investment Treaty, other investment agreements and international law, regarding an environmental lawsuit brought by residents of an oil-rich Amazon rain forest area...Chevron...says a $9.5 billion judgement against it is fraudulent...[Refers to Texaco]

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