Who's Online

We have 314 guests online

Popular

1646 readings
Argentine Judge Orders Chevron Asset Seizure, Plaintiffs PDF Print E-mail
Justice News
Posted by Joan Russow
Wednesday, 07 November 2012 13:55

By Pablo Gonzalez - Nov 7, 2012 

An Argentine judge ordered the seizure of all Chevron Corp. (CVX)’s assets in the country, according to Enrique Bruchou, a lawyer representing Ecuadorean plaintiffs in a lawsuit over pollution in the Amazon rainforest.

 to comment when contacted by Bloomberg.

The Ecuadorean plaintiffs said Oct. 31 they were asking an Argentine court to enforce a $19 billion award against Chevron, filing an attachment order in a Commercial Court of Justice in Buenos Aires. The Ecuadoreans blame Texaco Inc., which Chevron acquired in 2001, for destroying the environment in the Lago Agrio region, damaging living conditions of 30,000 inhabitants.

Chevron is unaware of either a filing by the plaintiffs or a court order in Argentina, James Craig, a spokesman for the San Ramon, California-based company said in an e-mailed response to questions.

“The plaintiffs’ lawyers have no legal right to embargo subsidiary assets in Argentina and should not be allowed to disrupt Argentina’s pursuit of its important energy resources,” he said. “The Ecuador judgment is a product of bribery, fraud, and it is illegitimate.”

Shale Investments

Chevron, the fourth-largest producer of oil in Argentina, signed a memorandum of understanding on Sept. 14 with YPF SA (YPF), Argentina’s biggest energy company, to analyze a partnership to jointly develop projects at the shale formation of Vaca Muerta.

Chevron will face more attachment requests in Asia, Bruchou said today. Another related lawsuit was filed by the Ecuadoreans in the Ontario Superior Court of Justice in Toronto on May 30. The company on Oct. 9 lost a U.S. Supreme Court bid to block the judgment imposed by an Ecuadorean court. The highest U.S. court let stand a federal appeals court ruling against Chevron that the Ecuadoreans can’t be barred from seeking to collect the award anywhere in the world.

To contact the reporter on this story: Pablo Gonzalez in Buenos Aires at This e-mail address is being protected from spambots. You need JavaScript enabled to view it

To contact the editor responsible for this story: James Attwood at This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Last Updated on Wednesday, 07 November 2012 13:59
 

Latest News