The Amazon Pink Dolphin’s Voice: Argentinian courts confirm the embargo against the oil company Chevron ruling in favor of Ecuador

Argentinian courts confirm the embargo against the oil company Chevron ruling in favor of Ecuador

The Appeals Court of Argentina confirms the embargo against Chevron, ruling in favor of Ecuador. Photograph: Andes

Quito, January 31, Andes – The Civil Appeals Court of Argentina confirmed the embargo presented by the Court of First Instance against the oil company Chevron, operating within the country. The measure is a result of a claim against environmental damages in Ecuador in regions considered to be of native communities.

The Court confirmed the decision to seize the company’s assets, the dividends and 40% of the future bank deposits that the company would receive; an amount equivalent to just over $19 billion. This is a ruling identical to the Ecuadorian courts that seek compensation for environmental damages made by Texaco, a company later purchased by Chevron according to a reference in the newspaper La Nación.

Until last night, the oil company had not been notified of the ruling. The next step for the company will be to petition the Court to make an appeal to the Supreme Court.

The Court’s decision is a threat to the company’s operations in Argentina and to the agreement with YPF (an Argentinian energy company), that was made public at the end of last year.

The Court’s verdict, found in document 91814/12, is upheld, among other considerations, in the agreements between Argentina and Ecuador.

This signifies a big setback for the company. Due to the problems that the decision of the Court of First Instance creates for them, a petition was presented for the case to be appealed. Their lawyers assured that the case would end in that court

Source: Andes

Confirman embargo contra Chevron

La justicia argentina confirmó el embargo dispuesto por un juzgado de primera instancia contra los activos de la petrolera Chevron en Argentina atendiendo a una demanda presentada en Ecuador.

La Cámara de Apelaciones en lo Civil confirmó el embargo dispuesto por el juzgado de primera instancia contra el 40% de las acciones, los dividendos y los depósitos bancarios futuros que recibiera la empresa, que en conjunto suponen algo más de $19 mil millones.

La compañía puede aún pedir autorización a la Cámara para recurrir a la Corte Suprema argentina.

La decisión judicial podría afectar a las operaciones de Chevron en el país y al acuerdo que firmó a fines del pasado año con la petrolera argentina YPF para avanzar en inversiones conjuntas por unos mil millones de dólares en el área de recursos no convencionales de Vaca Muerta.

En diciembre, Chevron Argentina apeló el embargo sobre sus activos dispuesto por un juez argentino en el marco de una demanda por daños ambientales en Ecuador contra la petrolera estadounidense.

Source: La Prensa

Editorial: SELVA-Vida Sin Fronteras

Selvavidasinfronteras.wordpress.com

Editorial Committee

David Dunham

Arno Ambrosius

Gustavo López Ospina

Mariana Almeida

Pieter Jan Brouwer

Assistant: Emilia Romero

The Amazon Pink Dolphin’s Voice is associated with the International Environmental Mission, a grass roots citizens movement created by Chilean Senator Juan Pablo Letelier.

SELVA Vida Sin Fronteras acknowledges Kevin Schafer’s important contribution towards protecting the highly endangered Amazon pink fresh water dolphin. Title photographs of our “The Amazon Pink Dolphin’s Voice” were taken by Mr. Schafer. 

~ by FSVSF Admin on 1 February, 2013.

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