ICSID panel unmoved by earthquake plea
Devastation in the Ecuadorian city of Portoviejo following last year's earthquake (Credit: Andes/César Muñoz via Wikimedia Commons)
An ICSID annulment committee has lifted a stay of enforcement of a US$380 million award in favour of ConocoPhillips against Ecuador, ruling that the state's budgetary pressures - Including the cost of a devastating earthquake - do not justify delaying payment.
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