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Lago Agrio: The New Arbitral Award
Okay, so here’s the deal. Yesterday, the Wall Street Journal reported that the tribunal hearing the investment treaty dispute between Chevron and Ecuador “issued a partial award in favor of Chevron Corp. and found the U.S. oil company isn’t liable for collective environmental damage claims in Ecuador.” Relying on the article, I put up a……
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Lago Agrio: Arbitral Tribunal Finds Chevron Is Not Liable for the $19 Billion Ecuadoran Judgment
Update: Here is the award, which friend-of-Letters Blogatory Doug Cassel was good enough to provide. Second Update: Having now read the thing through, it seems to me that the WSJ was a little hasty in its conclusions, and I was a little hasty in relying on the WSJ. I’ll try to have a better look……
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Case of the Day: Corporación Mexicana de Mantenimiento Integral v. PEMEX-Exploración Y Producción
The case of the day is Corporación Mexicana de Mantenimiento Integral v. PEMEX-Exploración Y Producción (S.D.N.Y. 2013). PEMEX Exploración y Produccion (“PEP”) was a subsidiary of the Mexican state-owned petroleum company, PEMEX. COMMISA was a Mexican subsidiary of KBR, Inc. In 1997, PEP and COMMISA entered into a contract for the construction of two offshore……
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Case of the Day: Blue Ridge Investments v. Argentina
The case of the day is Blue Ridge Investments, LLC v. Republic of Argentina (2d Cir. 2013). In 1989, Argentina privatized the gas transportation industry, leading to the creation of Transportadora de Gas del Norte, or TGN. In 1995, CMS Gas Transmission Co. bought a 25% stake in TGN from the Argentine government. At first,……
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Case of the Day: FDIC v. IIG Capital
The case of the day is FDIC v. IIG Capital, LLC (11th Cir. 2013). In a short, per curiam decision, the court affirmed the confirmation of an international arbitral award over IIG’s argument that an arbitrator was not impartial because he had had contacts with the FDIC’s counsel; that IIG had not agreed to the……