An International Court to dealt Chevron lawsuit against Ecuador
Posted On 29 Feb 2012
An International Court of Arbitration, administered by the Permanent Court at The Hague issued an interim award which states with jurisdiction over the claims raised by Chevron (Texaco) against Ecuador.
The multinational asked for arbitration in September 2009 in order to move to the country the compensation that they would have to pay to the Amazonian people, due to environmental pollution. If they win, the state should pay $ 18,200 million to the plaintiffs.
The International Court of Arbitration was convened under the authority of the Bilateral Investment Treaty between the U.S. and Ecuador (TBI). (FL)