SAN RAMON (dpa-AFX) - Chevron Corp. (CVX) reported that an Argentine court has dismissed an attempt to enforce a $9.5 billion Ecuadorian judgment against the company. A National Civil Court in Buenos Aires found the plaintiffs failed to prove that the case had any connection to Argentina that would justify recognition of the 2011 Ecuadorian judgment by the country's courts.
The court found that Chevron is not domiciled and has no assets in Argentina. The court relied on a previous decision from the Argentina Supreme Court which found that Chevron's indirect subsidiary in Argentina, Chevron Argentina SRL, is a separate entity from Chevron Corporation.
Copyright RTT News/dpa-AFX