Oil Co. Urges DC Judge To 'Immediately' Enforce $393M Award
By Diamond Naga Siu (September 21, 2021, 6:34 PM EDT) -- Bahamian oil company Perenco Ecuador urged a D.C. federal judge on Monday to "immediately" enforce a $392.6 million award against Ecuador that an annulment committee has already confirmed, accusing the country of trying to "manipulate" an otherwise quick proceeding.
The International Centre for Settlement of Investment Disputes handed Perenco Ecuador the award against Ecuador in a long-running profit allocation dispute over two Amazonian oil blocks.
Perenco in its Monday response to the country's partial opposition to enforcing the award slammed Ecuador for arguing that $70 million should be shaved from the award because of outstanding income tax claims and argued 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!