Judge OKs $96.4M Chevron Award In Ecuador Oil Dispute

Law360, Los Angeles (June 12, 2013, 11:03 PM EDT) -- A federal judge has approved an international tribunal's $96.4 million arbitration award to Chevron Corp. in a dispute alleging the Republic of Ecuador misappropriated crude oil from Chevron, denying the country's claim that the U.S. court lacked jurisdiction.

Ecuador had claimed the Foreign Sovereign Immunities Act, under which a foreign state is generally immune from U.S. jurisdiction, prevented the U.S. judge from confirming the award. The country argued that the law's exception for arbitration award confirmations didn't apply because Ecuador had never consented to arbitration....
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