Region: Ecuador

Perenco takes Ecuador award to UK and Singapore

Bahamian oil company Perenco says it has registered its US$412 million ICSID award against Ecuador in the courts of Singapore and the UK, as the Latin American state challenges an unrelated award in favour of a Singaporean oil company.

26 August 2022

Sinopec wins damages in Ecuador oil dispute

Chinese state-owned energy company Sinopec has won a US$64 million award against Ecuador’s national oil company over three Amazonian projects, a case that saw Quinn Emanuel partner David Orta disqualified as arbitrator because of his ties to the claimant’s counsel.

10 August 2022

Perenco secures freeze on Ecuador accounts in Luxembourg

Bahamian oil company Perenco has frozen Luxembourg bank accounts used by Ecuador to make coupon payments associated with sovereign bonds, with the ICSID award holder claiming this raises the possibility of the state defaulting to creditors.

01 August 2022

Ecuadorean tram disputes reach end of the line

Spanish and French consortiums have won damages – though far less than they sought – in two ICC disputes worth a combined US$75 million with an Ecuadorean municipality over the troubled construction of a tram line through a UNESCO-listed city centre.

07 July 2022

Ecuador fails in renewed bid to overturn Chevron award

A Dutch appeal court has dismissed Ecuador’s renewed bid to overturn a treaty award holding it liable for a denial of justice in its US$9.5 billion dispute with US oil company Chevron over pollution in the Amazon.

30 June 2022

Ecuador liable for moral damages in oilfield dispute

An UNCITRAL tribunal has ordered Ecuador to pay US$11 million to a Singaporean company in an oil field dispute, including moral damages for its “malicious” behaviour in a related criminal proceeding.

08 June 2022

PCA hears cement group’s treaty claim against Ecuador

A Permanent Court of Arbitration tribunal is in place to hear a Swiss multinational’s investment treaty claim against Ecuador concerning liability for additional contributions to pensions of retired workers at a cement business.

13 April 2022

A blow to legal security in Ecuador’s mining sector

Lawyers from King & Spalding and Pérez Bustamante & Ponce argue a recent Constitutional Court judgment in Ecuador blocking a mining project within a protected cloud forest has destabilised legal security while protections for foreign investors in the country have dissipated.

10 February 2022

Chilean state entity brings ICSID claim against Ecuador

Chile’s state-owned copper company has filed an ICSID claim against Ecuador, while a treaty dispute over another mining project is on the horizon.

26 January 2022

Halliburton brings claim against Ecuador’s national oil company

A subsidiary of US oil services giant Halliburton has brought an UNCITRAL claim against Ecuador’s national oil company.

08 September 2021

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