Thursday, November 1, 2012

Chevron sued in Argentina over Ecuadorean spills

(AP) ? The winners of a $19 billion environmental judgment against Chevron Corp. in Ecuador are going around the world trying to get the oil company to pay up. Now they're trying to persuade the courts in Argentina to freeze $2 billion in Chevron assets, citing a treaty Argentina signed that allows for the automatic freezing of assets of defendants who refuse to pay final court judgments.

Argentine lawyer Enrique Bruchou says Thursday's seizure request sends a signal to foreign investors that they must apply the same environmental standards wherever they do business. Similar lawsuits were filed this year in Canada and Brazil.

Chevron is refusing to pay, saying fraud marked the trial and that the Texaco Petroleum Co. mitigated the environmental damage long before it became a Chevron subsidiary.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-11-01-Argentina-Chevron-Ecuador/id-292581a367ed4c578bfd38bf637e88fe

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