Dutch Court Rules in Favor of Chevron in Ecuador Dispute

Date : 16/04/2019 @ 09:44
Source : Dow Jones News
Stock : Chevron Corp. (CVX)
Quote : 124.22  -0.69 (-0.55%) @ 02:51
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Dutch Court Rules in Favor of Chevron in Ecuador Dispute

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   By Josh Beckerman 
 

Chevron Corp. (CVX) said the Supreme Court of the Netherlands ruled in favor of the company in its dispute with Ecuador about a $9.5 billion judgment in an environmental case.

Last week, Canada's highest court ruled in favor of Chevron. In September, an international arbitration court in The Hague found Ecuador violated a treaty with the U.S. by allowing its court system to issue the $9.5 billion judgment.

According to Chevron, the Dutch court rejected Ecuador's argument that the awards should be annulled because they violated Ecuador's sovereignty and the rights of the plaintiffs.

Chevron, which has never operated in Ecuador, inherited the case when it bought Texaco in 2001. The 2011 judgment sought to hold Chevron responsible for environmental damage in an Amazonian village.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

April 15, 2019 19:29 ET (23:29 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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