Chevron Loses Supreme Court Appeal of $18.2 Billion Ecuadoran Judgment

The company was appealing a January decision by the Second Circuit Court of Appeals in New York that tossed out an injunction blocking the enforcement of the Ecuadoran court’s decision. Chevron had argued that the judgment was unenforceable in a New York court and that the Ecuadoran decision was fraudulent.

The circuit court ruled that Chevron could only challenge the decision if the residents who brought the suit attempted to enforce the judgment. In other words, don’t come complaining to us until somebody tries to collect.

Chevron has other actions pending in the Ecuadoran case and these are working their way through the federal court system. The company no longer owns any assets in Ecuador.

Chevron’s shares are unaffected by today’s ruling, up about 0.1% at $117.79 in a 52-week range of $92.29 to $118.543.

Paul Ausick