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Supreme Court denies Chevron $19bn Ecuador appeal
Key Excerpts from Article on Website of BBC News
Posted: October 16th, 2012
http://www.bbc.co.uk/news/world-us-canada-19892561
The US Supreme Court has declined to block a judgement from an Ecuadorean court that a US oil firm pay billions in damages for pollution in the Amazon. Chevron was fighting a ruling that it must pay $18.2bn (11.4bn) in damages, a sum increased to $19bn in July. It is the latest move in a decades-long legal wrangle between Texaco, bought by Chevron in 2001, and the people of the Lago Agrio region of Ecuador. The decision could affect other oil firms accused of pollution. The case claimed that Texaco contaminated land between 1964 and 1992, and has triggered several other lawsuits in courts within the US and elsewhere. In March 2011 a court in New York issued an injunction that blocked the judgement. But it was overturned in January this year by an appeals court, which said Chevron had challenged the judgement prematurely. The appeals court also said the New York judge could not stop other, foreign courts from enforcing the judgement - something the Ecuadorean plaintiffs are working to do in Canada and Brazil. The judgement originally ordered $8.6bn in environmental damages, but that was more than doubled because the oil company did not apologise publicly.
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