Ecuador, between the States with more international demands

Image: Expreso

The Attorney General of the State qualified as a legar victory for Ecuador the fact that in the arbitration award of the dispute with Occidental (OXY), the country achieved a reduction of 68.5% of the 3.370 million the US oil company calimed as compensation.

According to Attorney Diego Garcia, the decision on decreasing the amount was achieved through legal arguments of the defense of the body sponsored by the State.

The OXY case is one of 21 international disputes Ecuador faced with foreign companies until 2014, for alleged breaches of bilateral investment treaties (BITs) signed between the countries.

This is recorded in the historical statistics of the United Nations Conference on Trade and Development (UNCTAD), which in this field ranks to Ecuador _ seventh among the 11 most frequently demanded countries in the world.
Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8649679&idcat=38473&tipo=2