ICSID Awards Resource Companies $379M In Damages For Treaty Violations

(February 10, 2017, 2:44 PM EST) -- PARIS — After rejecting grounds for reconsideration of a liability ruling submitted by the Republic of the Ecuador, a tribunal for the International Centre for Settlement of Investment Disputes (ICSID) on Feb. 9 released its award on damages in a case filed by a group of resource companies, awarding them $379,802,267 for breaches of a bilateral investment treaty (Burlington Resources Inc., et al. v. Republic of Ecuador, No. ARB/08/5, ICSID)....