Ecuador Court Backs $18B Pollution Ruling Against Chevron

Law360, San Diego (January 3, 2012, 9:37 PM EST) -- An appeals court in Ecuador has upheld a ruling that Chevron Corp. is on the hook for $18 billion in damages in a high-profile lawsuit over pollution and contamination in the Amazon rain forest, the oil behemoth said Tuesday.

Chevron condemned the decision by the Provincial Court of Justice of Sucumbios in Lago Agrio, Ecuador, that affirmed a lower court’s February ruling. The lower court's decision had been challenged by the oil company as well as the plaintiffs, who claim the pollution took a toll on...
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.