Ecuador, Conoco Affiliate Stay $380M Award Enforcement Suit

Law360, New York (March 20, 2017, 5:20 PM EDT) -- A D.C. federal judge on Saturday signed off on an agreement for a ConocoPhillips Co. subsidiary to pause its efforts to confirm a $380 million arbitration award against Ecuador while the country seeks to annul the award, which stems from a dispute over the allocation of certain oil profits.

Burlington Resources Inc. last month had asked the court to recognize a Feb. 7 decision from an International Centre for the Settlement of Investment Disputes tribunal. The tribunal awarded Burlington $379,802,267, plus interest, after determining that Ecuador had...
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