UPI – Chevron wins claim against Ecuador
Date: Apr 2, 2010
An international court in The Hague ruled in favor of Chevron in a case related to claims the country failed to pay the company for oil in the 1990s.
The international arbitration tribunal found Ecuador violated international laws by delaying rulings on commercial disputes between Chevron subsidiary Texaco Petroleum Corp. and the Ecuadorian government.
The court in its decision awarded $700 million to Chevron in damages and interest.