Latest Breaking News

Judi Lynn

(160,542 posts) Tue Oct 9, 2012, 03:14 PM Oct 2012

Supreme Court refuses to block Chevron's $18.2 billion verdict for pollution in Ecuador

Source: Reuters

Supreme Court refuses to block Chevron's $18.2 billion verdict for pollution in Ecuador
Reuters mercurynews.com
Posted: 10/09/2012 11:57:40 AM PDT
October 9, 2012 6:59 PM GMTUpdated: 10/09/2012 11:57:41 AM PDT

WASHINGTON -- Chevron on Tuesday lost a U.S. Supreme Court bid to block an $18.2 billion Ecuadorian judgment against the San Ramon oil company in a case over pollution in the Amazon jungle.

A lower court threw out an injunction blocking enforcement of the judgment in January. Chevron appealed to the Supreme Court, which rejected the appeal without explanation.

The decision is the latest in a nearly two-decade conflict between Chevron and residents of Ecuador's Lago Agrio region over claims that Texaco, bought by Chevron in 2001, contaminated the area from 1964 to 1992. The battle has spawned litigation in numerous courts both inside and outside the United States.

Oil companies are watching the case closely because it may affect other cases accusing companies of polluting the areas where they operate.

Read more: http://www.mercurynews.com/business/ci_21732872/supreme-court-refuses-block-chevrons-18-2-billion?source=rss

9 replies

= new reply since forum marked as read

Highlight:

Supreme Court refuses to block Chevron's $18.2 billion verdict for pollution in Ecuador (Original Post) Judi Lynn Oct 2012 OP

Good news! K&R (nt) Luminous Animal Oct 2012 #1

So I wonder what the next delay tactic will be? HankyDub Oct 2012 #2

I don't believe they sulphurdunn Oct 2012 #8

They might. bemildred Oct 2012 #9

I hope the money that is awarded is distributed soon. truedelphi Oct 2012 #3

18.2 / 3 = long term happiness AngryAmish Oct 2012 #4

Amazing. The documentary film, CRUDE, is unforgettable. proverbialwisdom Oct 2012 #5

Excellent news dipsydoodle Oct 2012 #6

Figures, Alito was not involved in the decision. But still, amazingly good. nt SunSeeker Oct 2012 #7

Luminous Animal

(27,310 posts)

1. Good news! K&R (nt)

Reply to Judi Lynn (Original post)

Tue Oct 9, 2012, 03:51 PM

Oct 2012

HankyDub

(246 posts)

2. So I wonder what the next delay tactic will be?

Reply to Judi Lynn (Original post)

Tue Oct 9, 2012, 04:01 PM

Oct 2012

You don't think they are going to just pay up, do you?

sulphurdunn

(6,891 posts)

8. I don't believe they

Reply to HankyDub (Reply #2)

Tue Oct 9, 2012, 06:33 PM

Oct 2012

can delay any longer. They can retaliate however. Look for a coup.

bemildred

(90,061 posts)

9. They might.

Reply to HankyDub (Reply #2)

Tue Oct 9, 2012, 06:41 PM

Oct 2012

1.) A good deal of money has been pissed away fighting this already.
2.) Legal options are pretty much exhausted.
3.) It looks tacky, one could think the game was rigged if it were to get reversed now.
4.) It's going to be difficult for Chevron to hide its assets.
5.) The shareholders may wish to put all this unpleasantness behind them.

On the other hand, the precedent of a Company like Chevron being called to account no doubt upsets them greatly, so ...