International Arbitration

In the arbitration process, under regulations of CNUDMI (UNCITRAL) brought by Chevron Corporation and Texaco Petroleum Company against the Republic of Ecuador by violation of the Investment Bilateral Treaty celebrated between Ecuador and United States of America, by denial of justice, on March 30, 2010 it was issued the partial decision in favor of our clients Chevron Corporation and Texaco Petroleum Company.

Our Firm represented City Oriente in the arbitration case filed against the Ecuadorian State, based on the Bilateral Investment Treatment subscribed with the United States of America, for the breach of contract of exploration and exploitation of hydrocarbons, by virtue of the enactment of the Reforming Law to the Hydrocarbons Law. Said reform established that the State will receive for the exploration and exploitation of hydrocarbon deposits, the participation from 50% to 99%, to 1% of the surplus of oil sale prices.

In the arbitration case filed by Chevron Corporation and Texaco Petroleum Company against the Ecuadorian State for the violation of the Bilateral Investment Treatment subscribed between Ecuador and the United States of America, from April 20 through April 28, 2009 it took place the hearing on the merits in Washington, D.C.

The team of lawyers from Quevedo & Ponce that attended the hearing was formed by: Dr. Alejandro Ponce Martínez, Ana Belén Posso, and María Daniela Román.