Ecuador court halves Chevron pollution judgment

[Zorro]

Source: AP

Ecuador's highest court has upheld a landmark judgment against Chevron Corp. for oil contamination in the Amazon, but cut the penalty in half, to $8.8 billion.

The sum equals the original judgment against the oil multinational awarded by a local judge in February 2011.

That amount was doubled a year later after Chevron refused to publicly apologize for the contamination, which occurred between 1972 and 1990 under a Texaco-led consortium.

Chevron later bought Texaco.

Read more: http://news.yahoo.com/ecuador-court-halves-chevron-pollution-162955943.html

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1. In 2013, pennies on the dollar