5th Circuit: Oil Company’s Ecuadorian Workers Can’t Get $265M From Arbitration

Mealey's (May 9, 2022, 1:34 PM EDT) -- NEW ORLEANS — A Fifth Circuit U.S. Court of Appeals panel on May 5 affirmed a district court’s dismissal of a U.S. oil company’s former employees’ claims that they are entitled under Ecuadorian law to 15% of the company’s nearly $1 billion settlement of an arbitral award against Ecuador for expropriating its business, ruling that the payment cannot be construed as profits during the relevant period of employment....