In late September 2009, Chevron filed an arbitration against Ecuador before the Permanent Court of Arbitration at the Hague alleging breaches of the US-Ecuador bilateral investment treaty (BIT). Chevron argues that Ecuador should be forced to pay the potential US$27 billion liability for environmental damages. The claim manifests a new role for BIT claims, using an investment treaty to indemnify a foreign investor prospectively from future liability in the host state.
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Chevron files new BIT claim against Ecuador in long-running environmental dispute
- Latham & Watkins LLP
- Mark D. Beckett and Sebastian Seelmann-Eggebert
- Ecuador, Global, USA
- January 20 2010
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