ISDS Case Map
Ecuador
Ecuador had denounced the ICSID Convention in 2009. The convention establishes the institutional and legal framework for resolving international investment disputes.
Ecuador has 60 days to make the payment and has already contacted Perenco to start negotiations. In 2020, the country inked a $6.5 billion emergency deal with the IMF.
The Ecuadorean country will have to face a millionaire sum for Perenco oil company after a ruling by a panel formed under the auspices of the World Bank’s International Center for Settlement of Investment Disputes.
Ten years have passed since the judgment of Lago Agrio. Until today the oil company refuses to comply with the judgement; and, in turn, has chosen to activate a whole system that guarantees corporate impunity.
150 organizations are asking the government of Ecuador to appeal the arbitration award issued by the Dutch justice system in favor of the oil transnational Chevron.
How likely are the two countries to engage in talks for a broader trade agreement in the near future, and how would that differ from the phase-one treaty?
Expert Marcos Orellana walks us through the shadowy arbitration system, the Chevron case in particular, and what it all means for global climate action.
On 21 September 2020, the Federal Customs Administration announced that the EFTA-Ecuador Free Trade Agreement will enter into force on 1 November 2020.
The District Court of The Hague ruled in favor of Chevron in its dispute with the Republic of Ecuador, upholding a 2018 arbitral award rendered by an international tribunal administered by the Permanent Court of Arbitration.
The signing of the agreement was carried out virtually with the participation of the presidents and officials from the two countries' foreign ministries.
