Citing fraud, bribery and corruption, an international tribunal in The Hague ruled that US oil producer Chevron did not have to pay a US$9.5 billion judgement against the company decided by Ecuador’s Supreme Court.
The Permanent Court of Arbitration held that when Chevron acquired Texaco in 2001 and settled an outstanding environmental claim with Ecuador that further liability was closed.
The litigation stems environmental contamination that occurred in rainforest and village areas between 1964 and 1992 on Texaco’s properties. Ecuador says it will appeal.
Image: Anti-Chevron mural in Ecuador. By Cancilleria del Ecuador / CC-BY-SA 2.0
This story is taken from the 14 August 2018 edition of The Warren Centre’s Prototype newsletter. Sign up for the Prototype here.