Chevron wins bid to extend order blocking Ecuador judgment

posted by
March 8, 2011
Bloomberg    
Posted in News, PND News

"Chevron Corp. (CVX) won a bid to extend a court order barring Ecuadorean residents from enforcing an $18 billion judgment against the oil company until its racketeering case against the villagers and their lawyers is decided. U.S. District Judge Lewis Kaplan in Manhattan said in a ruling today that Chevron faced 'imminent' and 'irreparable' harm to its business relationships and reputation. ... Chevron acquired Texaco in 2001. Chevron, the second-largest U.S. oil company, was ordered Feb. 14 to pay as much as $18 billion in compensatory and punitive damages for Texaco’s alleged dumping of toxic drilling wastes in the Ecuadorean jungle from 1964 to about 1992." (03/08/11)

http://tinyurl.com/4hq298z  

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