Posted on Thursday, November 08, 2012
Yesterday, hell froze over when an Argentine court embargoed or, in effect, froze up to potentially $19 billion in Chevron assets in the South American country.
Now it’s time to fight it out on the ice.
Chevron, which now has about $2 billion in assets in Argentina, has sworn it will never pay a dime to cleanup the contamination it left behind in the Ecuadorian rainforest. Said former General Counsel Charles James: “Not till hell freezes over, and then we will fight it out on the ice.”
Chevron has defied Ecuador’s courts, refusing to pay an enforceable $19 billion judgment and forcing the Ecuadorians to file lawsuits to seize assets in Ecuador, Brazil, Canada and Argentina to obtain the damage award for one of the world’s largest oil-related environmental disasters.