Judge Enforces More Than $412M Award Against Ecuador For Oil Contract Cancellation

Mealey's (March 17, 2023, 11:46 AM EDT) -- WASHINGTON, D.C. — A District of Columbia federal judge on March 16 confirmed an International Centre for Settlement of Investment Disputes (ICSID) arbitral award worth more than $412 million in favor of a French-owned, Bahamanian oil company against the Republic of Ecuador for the cancellation of oil contracts in the Amazon region and denied Ecuador’s request to set off the award by more than $70 million in alleged tax liability....

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