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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

BURLINGTON RESOURCES, INC. v. REPUBLIC OF ECUADOR


Case Number

1:17-cv-00265

Court

District Of Columbia

Nature of Suit

Arbitration

Judge

Randolph D. Moss

Date Filed

February 10, 2017

Law Firms

Companies

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.