Chevron Will Not Settle Ecuador Pollution Suit

Law360, New York (March 2, 2007, 12:00 AM EST) -- Chevron Corp. said on Thursday that it would not settle a lawsuit alleging that the oil company dumped billions of gallons of toxic waste in Ecuador. The suit, brought by 30,000 Amazon Indians and settlers, seeks around $6 billion in damages.

Rodrigo Perez, the oil company’s legal representative in Ecuador, told reporters on Thursday, “We have to wait for the case to end. We insist that they review all evidence to show that we are right.”

From 1964 to 1992, Texaco Petroleum Co., who merged with...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.