Source: Russia Today
An Ecuadorian court has ordered Chevron to pay $8.6 billion in reparations to the victims of oil pollution in a remote rainforest. Chevron refuses to pay and New York has preemptively blocked any financial judgment against the company.
UPDATE: March 7th, 2011
In a New York courtroom today, oil giant Chevron Corp. won a halt to enforcement of an $18 billion judgment for oil pollution of the Ecuadorian Amazon imposed by a court in Ecuador. Granting Chevron’s request for a preliminary injunction, U.S. District Judge Lewis Kaplan ruled in Manhattan that Chevron faced “imminent” and “irreparable” harm to its reputation and business relationships.
The legal dispute has gone on for 17-years. Amazonian villagers and Chevron have been at odds in the Ecuadorian courts, only to be blocked by Judge Lewis Kaplan in the United States.
The US judge has ordered that no financial judgment against Chevron may collect Chevron’s assets because it might interfere with the company’s daily workflow and impact the global economy.
Wha?! That’s the risk of doing business! We now have oil companies that are “too big to fail?”
Ecuadorian courts acting on their jurisdiction in Ecuador regarding an even that took place within their own rainforests have ordered Chevron to pay $8.6 billion anyway....Continue ReadingView Comments (1)