Argentine Supreme Court rejects Ecuadorian $9.5b judgment against Chevron

Argentina’s highest court unanimously rejected the plaintiffs’ final bid to enforce a fraudulent $9.5 billion Ecuadorian judgment against Chevron Corporation. This is the latest in a string of legal victories in Chevron’s global defense against the Ecuadorian judgment—found by U.S. courts to be the product of fraud, bribery, and corruption, and held unenforceable as a matter of international law by an international arbitral tribunal in The Hague.

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International tribunal favors Chevron in fraudulent $9.5b judgment by Ecuador court

An international tribunal administered by the Permanent Court of Arbitration in The Hague has issued an award in favor of Chevron and its indirect subsidiary, Texaco Petroleum Company (TexPet), finding that the Republic of Ecuador violated its obligations under international treaties, investment agreements and international law. The tribunal unanimously held that a $9.5 billion judgment rendered against Chevron in Lago Agrio, Ecuador, in 2011 was procured through fraud, bribery and corruption and was based on claims that had been already settled and released by the Republic of Ecuador years earlier. The tribunal concluded that the fraudulent Ecuadorian judgment “violates international public policy” and “should not be recognised or enforced by the courts of other States.” As a matter of international law, this award confirms Chevron is not obliged to comply with the Ecuadorian judgment.

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