Court Orders First Handover of Chevron’s Ecuador Assets [View all]

[Judi Lynn]

Court Orders First Handover of Chevron’s Ecuador Assets
Posted by News Editor in Energy, Latest News, RSS on October 17, 2012 10:55 pm
Environment News Service (http://s.tt/1qmXx)

QUITO, Ecuador, October 17, 2012 (ENS) – An Ecuadorian court has frozen are all bank accounts owned by Chevron, Texaco, and their subsidiaries in partial payment of a $19 billion pollution damages judgment against Chevron.

Indigenous people and villagers living in the Ecuadorian Amazon were granted a court order this week that allows them to collect $200 million of Chevron’s assets in the country.

“This is a huge first step for the rainforest villagers on the road to collecting the entire $19 billion judgment,” said Pablo Fajardo, the lead lawyer for the plaintiffs.

Fajardo said the assets would be used to begin a cleanup of the ecological disaster left by Texaco, consistent with the mandates laid out by the Ecuador trial court.

More:
http://ens-newswire.com/2012/10/17/court-orders-first-handover-of-chevrons-ecuador-assets/