US Supreme Court Rejects Ecuador Challenge to Chevron Corporation Arbitration Award – BidnessEtc

The US Supreme Court declined to hear an appeal lodged by the government of Ecuador that challenges a $96-million international arbitration settlement awarded to Chevron Corporation (NYSE:CVX) in 2011. The government of Ecuador and the US energy company were locked in a dispute over the development of oil fields in the country. According to the US Supreme Court ruling, the Ecuadorian government is liable to pay millions of dollars to the California-based company. Read more>>