Chevron Closing In On $150M Brazil Oil Spill Settlement

Law360, New York (December 14, 2012, 8:14 PM EST) -- Chevron Corp. is reportedly willing to pay the Brazilian government $150 million to resolve a pair of $11 billion environmental suits over two major oil spills, and continued work with prosecutors Friday toward reaching a deal.

Rafael Jaen Williamson, who serves as the company's director of corporate affairs in Brazil, said after a public hearing on the spill that the company made the $150 million offer to government prosecutors, according to a report in the Brazilian financial newspaper Valor Economico.

Government prosecutor Gisele Porto said that...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.