Ecuador Rejects Arbitration Award

by Julian Ku

This is not surprising, although I doubt they have much a legal basis to resist enforcement.

Ecuadorean officials are rejecting an international arbitration tribunal’s ruling that it violated international law and must pay $700 million to the ChevronCorp.

President Rafael Correa’s administration is analyzing options for appeal under national and international law, Attorney General Diego Garcia said in a statement Wednesday.

“This new effort to compromise the Ecuadorean state in its firm commitment to respect the independence of its judicial system … will not succeed,” Garcia said.

http://opiniojuris.org/2010/04/01/ecuador-rejects-arbitration-award/

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