Chevron: another contingent for public finances

The Court of The Hague ruled against the country, which would be a multimillion-dollar fine for the Chevron case and would be added to the contingent that was activated in the case of the Occidental oil company, another unfavorable court decusion for Ecuador and which involves a payment in four installments of about 1,000 million.

Last Friday, as reported yesterday by daily Expreso, the District Court of The Hague rejected an attempt of Ecuador to annul or rescind, several arbitration awards against the country issued by an international arbitration court that has heard the claims of Chevron regarding what this oil company referred to as a “fraudulent lawsuit against the company.”

If Ecuador does not receive a positive response, its public finances would suffer another jolt like those it has already suffered due to low oil prices and the dollar rebound, because according to what international media has reported this would be a “billionaire fine.” (I)

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8837196&idcat=38269&tipo=2