The case of the day is Chevron Corp. v. Republic of Ecuador (D.C. Cir. 2015). Today’s decision doesn’t relate to the main Lago Agrio case or the BIT arbitration related to the Lago Agrio case. It relates instead to another BIT arbitration in which Chevron claimed it had suffered damages on account of undue delay in the settlement of lawsuits TexPet (of which Chevron was a shareholder) had brought against Ecuador in the early 1990s. The arbitration resulted in a $96 million awared in Chevron’s favor. I’ve written about the case a few times before:
- My post on the Dutch first instance decision refusing to vacate the award.
- A post on Chevron’s motion to confirm in Washington.
- My post on the decision confirming the award. This is the decision that was on appeal in today’s case.
- My post on the Dutch Supreme Court decision.
Continue reading Case of the Day: Chevron v. Ecuador
The case of the day is Yukos Capital S.A.R.L. v. Oio Samaraneftegaz (2d Cir. 2014). In 2004, Yukos loaned Samaraneftegaz almost 2.5 billion rubles. The loan agreement had an arbitration agreement providing for arbitration before the ICC. Samaraneftegaz defaulted, and Yukos demanded arbitration. Samaraneftegaz failed to participate, and eventually Yukos won a judgment for the full principal amount of the loan, plus more than 664 million rubles in interest and approximately $700,000 in fees and the costs of arbitration. The Russian courts refused recognition of the award, but the District Court in New York confirmed the award, entering a dollar-denominated judgment that used the exchange rate of the date of the award. Samaraneftegaz appealed.
Continue reading Case of the Day: Yukos Capital v. Samaraneftegaz
The case of the day is Asignacion v. Rickmers Genoa Schiffahrts (E.D. La. 2014). Lito Martinez Asignacion, a Philippine national, was employed by Rickmers Genoa Schiffahrts as a seaman aboard the M/V Rickmers Dalian, a Marshall Islands-flagged vessel. There was a written employment contract, entered into by Rickmers and by the Philippine government through the Philippine Overseas Employment Administration. The contract contained an arbitration provision requiring arbitration of disputes in the Philippines, and it provided that claims arising out of Asignacion’s employment would be governed by Philippines law.
Continue reading Case of the Day: Asignacion v. Rickmers Genoa Schiffahrts