NY Judge Refuses To Halt $18B Collection From Chevron

NEW YORK (AP) — A federal judge in New York has refused, for now, to halt collection of an $18 billion court judgment against the energy giant Chevron for environmental damage in an Ecuadorean rain forest.

Courts in Ecuador have ordered Chevron to pay the steep penalty for pollution that occurred when Texaco was operating in the forest, between 1972 and 1990. Texaco became a Chevron subsidiary in 2001.

The company has argued that the court action in Ecuador was a fraud, and wants a U.S. court to block collection.

Judge Lewis Kaplan on Friday said it was too early for him to intervene.

Chevron said in a statement that it was clear that the judge left the door open to rule differently in the future.

Do you agree with the judge? Sound off in our comments section below…

(Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


One Comment

  1. Marcelo says:

    You need to research a bit to comment, Texaco was responsible for the cleanup of the mess they left for years and the lawsuit started in 1993, Chevron bought Texaco in 2000 and inherited this lawsuit and underestimated it of course. There were bad governments in the last decade in Ecuador so corrupt that were on the side of Chevron leaving behind their own people. Until Rafael Correa became president and everything changed, Chevron wanted to be judged in Ecuador (thinking they could easily manipulate the judges like they did before), and they lost a few times now, with this last setback for them there are still a few years to go until justice is done.

    Like I said , do your research…

    1. Thach Le says:

      What make you an expert ??
      you must from Latin America , right ?
      why they approved the sale of Texaco ? now they go after Chevron
      because they think they can get money , right ?
      go after big pocket ! bunch of greedy .

  2. Thach Le says:

    This is America , not Ecuador , beside it was their Goverment did it with Texaco
    long before Chevron bought Texaco , Chevron only liable since they bought Texaco , not before , why don’t they go after their goverment , the Governor , Politician … who did it , this is ridiculous

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