In the latest development in the Yaiguaje v Chevron Corporation saga, the Ontario Court of Appeal (“OCA”) has vacated a security for costs order against the Ecuadorian claimants.
In February 2011, an Ecuadorian court found that Chevron Corporation was liable for $9.5 billion in damages relating to oil extraction activities in Ecuador’s Oriente region. Chevron Corporation did not have assets in Ecuador at the time of the judgment. Chevron Corporation has resisted enforcement of the Ecuadorian judgment.
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