Judge Stays Petition After Ecuador, Texas Refinery Settle $6M Award Row

(February 23, 2024, 11:24 AM EST) -- HOUSTON — A Texas federal judge on Feb. 22 granted a joint motion to stay after a Texas company and the Republic of Ecuador filed a joint motion stating that they have reached a settlement resolving Ecuador’s petition to confirm a Permanent Court of Arbitration (PCA) tribunal’s award against the Texas company for more than $6 million in attorney fees awarded after a contract dispute and are now preparing to “effectuate the settlement.”...