Global Processing

Ecuador Accepts US Court Decision Favoring Chevron

February 14, 2011
The Associated Press reports, Ecuadorian officials say they will temporarily block a potential multibillion-dollar judgment against Chevron Corp. for alleged environmental damages. The Attorney General''s Office says in a statement that Ecuador will obey the order from a U.S. federal judge in New York even though officials "do not agree" with it. The lawsuit against Chevron is being heard in Ecuador, where a court-appointed expert has recommended the company pay up to $27 billion for the alleged damages. At Chevron''s request, the U.S. judge blocked any judgment for at least 28 days. The judge said he had concluded that lawyers representing the 30,000 plaintiffs were planning a global disruption of the oil giant''s business to enforce any monetary award.