March 31, 2010 / 4:20 AM / in 8 years

Ecuador says rejects Chevron arbitration decision

QUITO, March 30 (Reuters) - Ecuador has rejected a decision by an arbitration panel in favor of Chevron Corp (CVX.N), the country’s Solicitor General Diego Garcia said in a statement on Tuesday.

    An arbitration panel ruled earlier on Tuesday that Ecuador’s courts violated international law by delaying rulings on commercial disputes between the U.S. oil company and Ecuador’s government, and awarded Chevron $700 million.

    Ecuador’s solicitor general acts as lawyer to the state. (Reporting by Santiago Silva, Editing by Ian Geoghegan)

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