Oil Co. Can't Enforce $449M Award Against Ecuador Yet

Law360 (February 24, 2020, 6:56 PM EST) -- An international tribunal on Friday continued to hold off enforcement of a $448.82 million arbitration award issued against Ecuador following a dispute with a Bahamas-incorporated oil company over the allocation of profits from two oil blocks in the Amazon.

The committee said it had three considerations in deciding whether the stay is required: the risk of non-payment of the award if Ecuador’s application for annulment is rejected, the risk of non-recovery of award payments if the award is annulled, and the balance of hardship claimed by both parties.

In weighing the parties’ hardships, the committee found a “dual risk.”

“The committee considers that...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!