Ecuador on list of countries often mentioned in arbitration cases

Posted on August 27, 2013 • Filed under: Conflicts, Ecuador reported that Ecuador, along with Argentina, Venezuela and the Czech Republic, are defendants that appear most often in claims brought by dissatisfied parties, according to the United Nations Conference on Trade and Development, which tracks worldwide investment. Canada, Egypt, the United States and Poland are next on the list.

Corporations triumph in most of the disputes that are made public, with two-thirds of tribunal decisions favoring their claims, according to the U.N. scorecard. Nine public decisions last year awarded damages to the party claiming injury, with a record award of $1.77 billion against Ecuador for terminating an oil contract in 2006 with Occidental Petroleum. Read Article
Thinking of Moving to Ecuador? Read This Book First

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