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Argentine Judge orders Chevron assets seizure related to court case in Ecuador
An Argentine judge has embargoed up to 19 billion dollars in Chevron assets in connection with an environmental lawsuit by Ecuadorean villagers, a lawyer for the plaintiffs said on Wednesday. Read full article
Comments
Disclaimer & comment rulesHopefully compensation is forthcoming and then spent appropriately on any further cleanup.
Nov 08th, 2012 - 07:40 am - Link - Report abuse 0Smells like another opportunity for nationalisation and the lining of KFCs pockets, as well as furthering her goal of becoming the most isolated country in the world (short of North Korea anyway).
Nov 08th, 2012 - 08:27 am - Link - Report abuse 0lol as if Ecuador will see any of this money, i'm sure there are new hotels to be built in Patagonia
Nov 08th, 2012 - 08:31 am - Link - Report abuse 0Saw on bloomberg last night the Chevron doesn't have any assets in Argentina...
Nov 08th, 2012 - 09:39 am - Link - Report abuse 0If I remember rightly,
Nov 08th, 2012 - 09:53 am - Link - Report abuse 0Chevron wasn't even in Ecuador during the period in question.
They inherited a historic problem of contamination when they took over a company that had won oil in upper Amazonia.
The Ecuador national oil company was equally culpable of contamination and poor clean-up,
.... but I doubt whether litigation and compensations would be requested of them
.... otherwise the legal advocate for the local population would be suing the Government for an equal amount
- wouldn't he?
This really is makes sense, Chevron is the only US oil company that has shown any interest in investing in Argentina's oil.
Nov 08th, 2012 - 11:26 am - Link - Report abuse 0In 1998 an agreement Texaco signed with Ecuador after a $40 million clean-up absolves it of liability and that Ecuador's state-run oil company is responsible for much of the pollution in the oil patch Texaco quit more than two decades ago before Chevron was involved.
“Bruchou said the company can appeal, but would have to file for an appeal in Ecuador because the judge issued the embargo after a request by an Ecuadoran court.”
Its fine for Argentina to hold up an Ecuadoran court order against a US company but then accuses a Ghana court of not knowing the law.
Poor Chevron!
Nov 08th, 2012 - 11:45 am - Link - Report abuse 0The Peronists will steal a good part of the seized assets. Anyone with a dollar in Argentina is at risk.
Nov 08th, 2012 - 12:06 pm - Link - Report abuse 0If I recall, Texaco was the company that polluted the environment. Chevron bought Texaco. If they had not righted the environment, I hardly feel sorry for them.
Nov 08th, 2012 - 12:43 pm - Link - Report abuse 0This is CFK's payback to Chevron for not investing in YPF!!!!!
Nov 08th, 2012 - 01:00 pm - Link - Report abuse 0Texaco fucked up the country there. Chevron took a risk when they bought Texaco with the enviromental damge they left behind. However I am sure that asslips sees it as a chance to seize assets and dollars and it will never go to Ecuador
Nov 08th, 2012 - 02:46 pm - Link - Report abuse 0So it's ok for the judiciary in Argentina to seize assets on behalf of another but not the Ghanaian judiciary. Yet another example of their two faced behaviour!
Nov 08th, 2012 - 02:52 pm - Link - Report abuse 0Asslips will do as she pleases right up until the end. I think the Botox Junkie feels that is MNL can seize her militray (that sounds funny, seizing her military and no shots fired) that she can seize Chevrom. I bet asslips asked Ecuador to file suit in argentina. But not matter, Texaco fucked up Ecuador.
Nov 08th, 2012 - 04:15 pm - Link - Report abuse 0I have yet to hear a troll explain to me why so called “vulture funds” are wrong and why they do not have to be paid.......for the shear reason they refused a haircut?
12 Britworker (#) The Ghanan “seizure” beause it is a Naval or war asset. It cannot be seized. Argentina never surrendered it's sovereign rights as being reported. It is a lie. That is why 28 other attempted seizures failed to materialize. They were illegal attempts to seize state property. The Libertad matter is an act of agression and illegal.
Nov 08th, 2012 - 05:21 pm - Link - Report abuse 0@14
Nov 08th, 2012 - 05:48 pm - Link - Report abuse 0keep on dreaming
“In 1998 an agreement Texaco signed with Ecuador after a $40 million clean-up absolves it of liability and that Ecuador's state-run oil company is responsible for much of the pollution in the oil patch Texaco quit more than two decades ago before Chevron was involved”
Nov 08th, 2012 - 06:40 pm - Link - Report abuse 0Does this 'clean break' agreement, signed by the government of Ecuador, write a line under the dispute or not?
In law .. in international law, it should.
In South American politics, international law can be un-written on a whim .... or so it seems.
sucks to be Chevron. go solar &ev!
Nov 08th, 2012 - 07:34 pm - Link - Report abuse 014 ProRG_American
Nov 08th, 2012 - 08:14 pm - Link - Report abuse 0[theory]
The Ghana “seizure” because it is a Naval or war asset. It cannot be seized. Argentina never surrendered it's sovereign rights
[Facts]
It has done.lol.
………………………….
Now see what the argie debts have done,
Everybody’s jumping on the band wagon now.
How long before CFK impounds all assets from countries that owe her money.lol.
.
Will someone tell the yanks that as members of the UN C24Committee Argieland is trying to decolonise American Samoa, Guam and the US Virgin Islands.
Nov 08th, 2012 - 08:59 pm - Link - Report abuse 0And that Argieland has just unveiled a statue of Ho Chi Minh in downtown Buenos Ayres.
Time for the IMF Red Card!
#14 It is written in the loan documents, the waiving of sovereign rights over all assets.
Nov 08th, 2012 - 09:17 pm - Link - Report abuse 0#19 We have the same problem as you Brits do, they want to be assoicated with us. Besides,,,,,they UN is meant for small undeveloped nations........not the top.....5.....lol
C24 should be scrapped
Nov 08th, 2012 - 10:21 pm - Link - Report abuse 0C24, =all countries that have teritory should demand it is scrapped,
but they do not, [why]
dispite all the trouble it causes us , and others, [why]
scrap the damm thing and be done with it..
Yaaaawwwn!
Nov 08th, 2012 - 10:36 pm - Link - Report abuse 0Fiat Justicia ruat caelum
Nov 08th, 2012 - 11:11 pm - Link - Report abuse 0I think titi boi is back
Nov 09th, 2012 - 12:51 am - Link - Report abuse 022 ProRG_American (#)
Nov 09th, 2012 - 01:25 am - Link - Report abuse 0Yaaaawwwn
to argentina,,,yes.
Great news =)
Nov 09th, 2012 - 01:55 am - Link - Report abuse 0@ 14 ProRG_American
Nov 09th, 2012 - 09:44 am - Link - Report abuse 0“The Ghanan “seizure” beause it is a Naval or war asset. It cannot be seized. Argentina never surrendered it's sovereign rights as being reported.”
Are you blind or stupid?
A couple of week ago I supplied a link to the precise text of the Argentine waiver. Any Argentine government asset, naval and war assets includded, is under that waiver.
“An Argentine judge has embargoed up to 19 billion dollars in Chevron assets in connection with an environmental lawsuit by Ecuadorean villagers”
Nov 09th, 2012 - 10:14 pm - Link - Report abuse 0Nice............. So KFC / TMBOA / Ol' Turkey Neck / The Harpy is planning to pay back these Vulture Funds with Chevron assets........
One has nothing to do with the other. TMBOA may just be buying the wood for her casket.
Nov 10th, 2012 - 02:29 am - Link - Report abuse 0Commenting for this story is now closed.
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