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The head of Chevron’s (CVX) Brazilian unit can leave the country when his job ends later...

The head of Chevron’s (CVX) Brazilian unit can leave the country when his job ends later this month as long as he pays a bond of 500K reais ($245K) to assure his participation in court cases related to a November oil spill, a Brazilian court rules. More than a dozen employees of CVX and drill-rig owner Transocean (RIG) have been charged with crimes related to the spill.
Comments (7)
  • brerbaar
    , contributor
    Comments (5) | Send Message
     
    Another ripoff of a successful corporation by a marxist led country.
    5 Sep 2012, 05:24 PM Reply Like
  • BudaBobNu
    , contributor
    Comments (9) | Send Message
     
    Their Justice System is very Corrupt, especially these Prosecutors. They want a pay-off.

     

    The Judges that try to be fair receive threats, especially if the defendant is a Customs Officer.
    5 Sep 2012, 06:24 PM Reply Like
  • Grampa Jim
    , contributor
    Comments (107) | Send Message
     
    Why doesn't Obama deploy one of our aircraft carriers, say the Ronald Reagan or whichever, to float lazily off the coast of Brazil?
    5 Sep 2012, 08:02 PM Reply Like
  • Colin Doyle
    , contributor
    Comments (708) | Send Message
     
    Honestly, it's not such a far-out idea. Brazil is basically holding US citizens hostage and demanding collateral for their temporary release. This whole case stinks and makes Brazil's government and courts look incredibly incompetent and corrupt.
    8 Sep 2012, 08:42 PM Reply Like
  • Grampa Jim
    , contributor
    Comments (107) | Send Message
     
    This is a hostage rescue job for SEAL Team Six. The Ronald Reagan can divert attention while on a moonless night they spring 'em, a couple of Zodiacs pick them up off the beach and run them out to a sub that surfaces "just in time" of the coast. Each guy gets a cut of the movie rights for his trouble.
    11 Sep 2012, 04:45 PM Reply Like
  • Eisotrader
    , contributor
    Comments (37) | Send Message
     
    A lot of this is political posturing. Brazil needs the oil revenues to support its economy, is not about to cut off the deep water drilling capacity needed to get at the oil.

     

    Also, it would be interesting to know how much of the potential liability for the spill is covered by the respective defendant's insurance. Only the amount of loss excess of applicable insurance coverege would be a hit to their balance sheets. My guess is that the amount would not come close to causing any material.impact.

     

    Eiso
    8 Sep 2012, 11:44 PM Reply Like
  • Grampa Jim
    , contributor
    Comments (107) | Send Message
     
    Could it be that the total claim is less than the deductible?
    11 Sep 2012, 04:47 PM Reply Like
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