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Chevron (CVX) loses its appeal in Argentina against asset freezes to enforce an Ecuadorean...

Chevron (CVX) loses its appeal in Argentina against asset freezes to enforce an Ecuadorean judgment for it to pay $19B in damages for environmental pollution. Even as CVX has refused to make any payments and accuses Ecuadorean courts of fraud, it may need to spell out the impact of the decision in its upcoming financial statements or risk violating SEC rules.
Comments (2)
  • The best, and perhaps only, way that an American company can safely do business in Latin America, is through separately-formed, (and remotely owned) corporations, who lease or rent their equipment in turn from out-of-the-country corporations, and who disburse their income over and above expenses promptly to banks in other countries where legal proceedings are less corrupt, and less subject to the dictatorial governments.
    30 Jan 2013, 11:35 PM Reply Like
  • Considering the controversies that chevron is involved in Nigeria,what Chevron might be recieving is Karma.
    30 Jan 2013, 11:45 PM Reply Like
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