Ecuador Internacional

ConocoPhillips Subsidiary Can Enforce $380M Ecuador Award

Law 360 - Caroline Simson 05/09/2017

Law360, New York (September 1, 2017, 5:15 PM EDT) -- A ConocoPhillips Co. subsidiary can enforce a $380 million award it won against Ecuador following a dispute over oil profits even during ongoing annulment proceedings, after a World Bank committee decided Thursday that Ecuador hadn't shown paying the award would severely impair its ability to function.

The $380 million award was issued by an International Centre for the Settlement of Investment Disputes tribunal led by Gabrielle Kaufmann-Kohler in February, after the arbitrators determined that Ecuador had unlawfully expropriated Burlington Resources Inc.'s investment in two oil exploration...

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