Ecuador plaintiffs in $18 billion pollution lawsuit aim for Chevron assets in Panama

The legal team representing Ecuadorean plaintiffs who won an $18 billion landmark case against oil giant Chevronfor polluting the Amazon jungle will target the company's assets in Panama and Venezuela in a bid to collect the award.

Pablo Fajardo, the plaintiffs' lead lawyer, said that they would first need countries outside Ecuador to recognize the validity of the sentence, and then could try to enforce the ruling there.

"Chevron has investments in more than 50 countries, but two have caught our eye ... Panama because oil ships go through the Panama Canal and in Venezuela because they have important assets there," Fajardo said.

Source: Reuters