- Dutch Supreme Court Rules in Favor of Chevron in $9.5Bln Dispute With Ecuador - Company
Dutch Supreme Court Rules In Favor Of Chevron In $9.5Bln Dispute With Ecuador - Company
Faizan Hashmi 3 days ago Tue 16th April 2019 | 07:29 PM
The Supreme Court of the Netherlands dismissed Ecuador's attempts to annul the Hague arbitral tribunal's decision that obliged the country to take all necessary steps to prevent enforcement of a $9.5 billion Ecuadorian judgment against Chevron, the energy company said in a press release
In September, the arbitral tribunal obliged the Ecuadorian authorities to compensate the energy giant for the financial damage caused by the decision of an Ecuadorian court of 2011. Back in 2011, the court ordered Chevron to pay $9.5 billion for alleged environmental damage. The Hague arbitral tribunal, in turn, found that the court's decision had been procured through fraud, bribery and corruption.
The Dutch Supreme Court joins the courts of the United States, Argentina, Brazil, and Gibraltar in rejecting the Ecuadorian fraud against Chevron. Chevron urges Ecuador to honor its obligations under international law, comply with the lawful orders of The Hague tribunal and put an end to the fraud and extortion against Chevron," Hewitt Pate, Chevron's vice president and general counsel, said as quoted in the company's press release.
The decision of the Supreme Court of the Netherlands came just about two weeks after the similar ruling was passed by the Supreme Court of Canada. The Canadian court also dismissed Ecuador's claims aimed at forcing Chevron's Canadian unit to pay Ecuador $9.5 billion for pollution.