November 27, 2014
BUENOS AIRES, Argentina (AP) - Argentina's Supreme Court has suspended a freeze on the Argentine assets of Chevron Corp. that had been ordered late last year following a suit by the winners of a $19 billion environmental judgment in Ecuador.
The high court says Chevron's Argentine operations are not parties to the case brought against Chevron in Ecuador.
An Ecuadorean court has ordered Chevron Corp. to pay $19 billion for oil contamination caused by Texaco Corp. in the Amazon rainforest between 1972 and 1990. Chevron bought Texaco in 2001 and says it won't pay because Texaco dealt with the problem.
Chevron has no assets in Ecuador, so the plaintiffs have filed suits in Argentina and other nations seeking to force the company to pay there.