Ecuador Appeals Arbitration Ruling in Chevron Case
December 23, 2011
Ecuador has asked a district court in the Netherlands to annul an Aug. 31 ruling from an international tribunal in the Hague that awarded oil company Chevron Corp. (CVX) $96 million in connection with claims made in Ecuadorean courts in the early 1990s.
In August, the Hague tribunal ruling resolved seven commercial claims filed from 1991 to 1993 by Texaco Petroleum Co. for alleged violations of the Bilateral Investment Treaty between Ecuador and the U.S. The appeal was presented on Nov. 30, the attorney general’s office confirmed to Dow Jones Newswires on Friday.