Ecuador Pays Chevron $112 Arbitration Award

July 22, 2016 11:15 PM

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Ecuador has paid a $112 million arbitration award to Chevron Corp stemming from a 1990s-era oil contract dispute.

The payment confirmed Friday by a company spokesman was ordered in 2011 by a Netherland-based international arbitration panel and later confirmed by U.S. courts and upheld on appeal by the Supreme Court.

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