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BREAKING NEWS – Wall Street Journal – Chevron Sues Ecuador Under International Trade Law

Date: Sep 23, 2009

[archive-title]Chevron Sues Ecuador Under International Trade Law
Wall Street Journal, September 23, 2009[/archive-title]
“Chevron Corp. is stepping up its offensive in its long-running legal battle in Ecuador, suing Ecuador’s government under international trade law.

Chevron is the defendant in a multi-billion-dollar lawsuit that seeks to hold the company responsible for environmental damage allegedly caused by Texaco Inc., which Chevron bought in 2001. Chevron has denied the allegations.

Seeking to protect itself from what it says is likely to be an adverse ruling in Ecuador, the California-based oil giant said Wednesday it had filed suit under the terms of a 1997 trade pact between the U.S. and Ecuador. The suit amounts to a request for arbitration through a process set up by the United Nations Commission on International Trade Law to adjudicate disagreements.”
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