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Chevron's Ecuador Pollution Arbitration To Stretch Into 2014
An international tribunal that will weigh in on Chevron Corp's two-decade dispute over pollution in Ecuador has set a timeline that runs into 2014, according to a Chevron regulatory filing...The panel, formed via The Hague's Permanent Court of Arbitration under the United Nations Commission on International Trade Law, is hearing a dispute over whether Ecuador violated a treaty with the United States requiring it to guarantee Chevron a fair trial. An Ecuador court ruled against Chevron in February 2011. Last week, damages stemming from that hotly contested decision were increased to $19 billion from $18.2 billion. [also refers to Texaco]