- Chevron (CVX +2.1%) will go head-to-head in a U.S. appeals court starting today against Stephen Donziger, the lawyer who has tried for years to get the company to pay a $9.5B environmental damage award.
- The appeal is another twist in a complex legal battle that has played out for decades across countries and continents, with the latest twist coming last year when a U.S. district judge overturn the decision of an Ecuador court upon finding that the $9.5B award against CVX was bsed on corruption and misconduct by Donziger.
- A win for CVX would support the company’s efforts to shield its assets from seizure, including in foreign jurisdictions outside the U.S., and potentially set a framework for how multinational companies can use RICO in battling similar lawsuits in the future.