Ivanhoe Energy Beats $95M Suit Over Ecuador Oil Field Deal

Law360, Houston (March 20, 2014, 8:09 PM EDT) -- A Texas arbitration panel has thrown out a $95 million suit against Ivanhoe Energy Inc. for allegedly backing out on a deal to pay a consultant for helping secure an Ecuadorean oil field development deal worth billions, the company said Tuesday.

In a March 14 ruling, an arbitration panel sitting in Houston rejected claims that Ivanhoe cheated GAR Energy and Associates Inc. out of consulting fees stemming from a 40-year deal Ivanhoe struck with Ecuador’s state-owned oil companies to help develop the country’s reserves. 

Ivanhoe said...
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