Ecuador to Sue Chevron in Argentina to Enforce Judgment

From Bloomberg Business Week

By Pablo Gonzalez

Ecuadorean plaintiffs will ask an Argentine court to enforce a $19 billion award against Chevron Corp. (CVX) in a lawsuit over pollution in the Amazon rain forest by seizing the company’s local assets, a lawyer for the group said.

An attachment order will be filed as soon as tomorrow in a Commercial Court of Justice in Buenos Aires, Pablo Fajardo, the Ecuadorean lawyer who represents the group, said today at a press conference in Buenos Aires. The group will ask to seize Chevron’s local Argentine unit, dividends, oil sales income and the company’s bank accounts in Argentina, Enrique Bruchou, an Argentine attorney with Bruchou, Fernandez, Madero & Lombardi, said at the same press conference.

The Ecuadoreans blame Texaco Inc., which Chevron acquired in 2001, for destroying the environment in the Lago Agrio region, damaging living conditions of 30,000 inhabitants.

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