ISDS Case Map
Ecuador
Ecuador in the early 90’s, during the great neoliberal onslaught, had modified and established laws to ensure attractive profits to foreign companies. Additionally, Ecuador subscribed 21 BITs out of a total of 30 signed treaties between 1985 and 2003.
Ecuadorean plaintiffs cannot collect a $9-billion judgment in the US against Chevron Corp. for rainforest damage, a federal appeals court ruled Monday.
For the first time ever, progress is being made at the United Nations for a binging legal instrument that would hold corporations accountable for human rights violations.
Ecuador has paid $112 million to energy company Chevron Corp over a four-decade-old contract dispute, even though it remains in disagreement, the head of the central bank has said.
Chevron shareholders remain wary of the risks from an $11 billion judgment against the company in Ecuador. They also continue to be critical of Chevron management’s mishandling of the case.
Next October Ecuador is to begin the negotiations for a comprehensive trade agreement with the European Free Trade Association (EFTA).
The U.S. Supreme Court let stand a $96 million international arbitration award issued in 2011 in favor of energy company Chevron in a dispute over the development of oil fields in Ecuador.
The Permanent Court of Arbitration awarded the Company damages of US$19,447,498, plus pre- and post-award interest.
The new Ecuadorian minister of foreign trade said he wants to come to Brussels to push for an acceleration of the EU-Ecuador free trade agreement’s ratification.
The Ecuadorean government is being forced to use money that could go toward relief efforts to instead pay off a multinational oil company.
