Chevron Corp. Statement on Canadian Jurisdictional Decision in Ecuador Enforcement Proceeding

The Ontario Superior Court of Justice has stayed (see
opinion here) an action initiated by a group of Ecuadorian
plaintiffs seeking to have a judgment of an Ecuadorian court against
Chevron Corp. [NYSE: CVX] recognized and enforced in Ontario. In doing
so, the court stated:

'the plaintiffs have no hope of success in their assertion that the
corporate veil of Chevron Canada should be pierced and ignored so that
its assets become exigible to satisfy a judgment against its ultimate
parent.There is no basis in law or fact for such a claim.?
Ontario courts should be reluctant to dedicate their resources to
disputes where, in dollar and cents terms, there is nothing to fight
over.In my view, the parties should take their fight elsewhere
to some jurisdiction where any ultimate recognition of the Ecuadorean
judgment will have a practical effect.?

In response, Chevron Corporation issued the following statement:

'We are pleased with today′s decision from Justice Brown. ?The Ontario
Superior Court ruled that it ought not to entertain the plaintiffs′
claims on the evidence before the court. This is a significant setback
to the Ecuadorian plaintiffs′ worldwide enforcement strategy given that
it is premised on seeking to enforce the judgment against assets of
Chevron Corporation subsidiaries that were not even parties to the
Ecuadorian litigation.?

'The plaintiffs should be seeking enforcement in the United States ?
where Chevron Corporation resides. In the U.S., however, they would be
confronted by the fact that eight federal courts have already found the
Ecuador trial tainted by fraud.?

Meanwhile, Chevron Corp. has made additional notable progress in the
legal proceedings in the United States exposing the fraudulent nature of
the plaintiffs′ judgment. This evidence further demonstrates that the
judgment is illegitimate and should be unenforceable in any court that
respects the rule of law. Evidence of the plaintiffs′ fraud includes:

• 
  A former Ecuadorian judge has admitted
  his role in orchestrating the fraudulent judgment against Chevron and
  a half-million-dollar bribery scheme.
  
• 
  Stratus Consulting, the lead environmental consultants to the
  Ecuadorian plaintiffs′ lawyers, provided sworn declarations (here
  and here),
  highlighting the lack of scientific merit to the plaintiffs′ damage
  claims.
  
• 
  Another of the plaintiffs′ lawyers′ environmental consultants, Dr.
  Charles Calmbacher, has testified
  that plaintiffs′ evidence was being falsified from the very outset of
  the trial.
  
• 
  Litigation hedge fund Burford Capital has provided a sworn
  declaration outlining the firm′s knowledge of the plaintiffs′
  lawyers′ misconduct, testifying that the proceeding is irredeemably
  tainted by fraud.
  

Chevron Corp. remains committed to holding the plaintiffs′ lawyers
accountable for their misconduct and demonstrating the judgment is the
product of a corrupted judiciary.

Note to Editors:

Chevron Corp. is defending itself against false allegations that it is
responsible for alleged environmental and social harms in the Oriente
region of Ecuador. Chevron never conducted oil production operations in
Ecuador, and its subsidiary Texaco Petroleum Co. ('TexPet?) fully
remediated its share of environmental impacts arising from oil
production operations, before leaving Ecuador in 1992. After the
remediation was certified by all agencies of the Ecuadorian government
responsible for oversight, TexPet received a complete release from
Ecuador's national, provincial, and municipal governments that
extinguished all claims before Chevron acquired TexPet in 2001. All
legitimate scientific evidence exonerates Chevron and proves that the
remediated sites pose no significant risks to human health or the
environment.

More information on the plaintiffs′ lawyers′ fraud can be found here.
Additional background on the Ecuador litigation can be accessed here
and here.

Chevron is one of the world′s leading integrated energy companies, with
subsidiaries that conduct business worldwide. The company is involved in
virtually every facet of the energy industry. Chevron explores for,
produces and transports crude oil and natural gas; refines, markets and
distributes transportation fuels and lubricants; manufactures and sells
petrochemical products; generates power and produces geothermal energy;
provides energy efficiency solutions; and develops the energy resources
of the future, including biofuels. Chevron is based in San Ramon, Calif.
More information about Chevron is available at www.chevron.com.

Chevron

Justin Higgs, 925-842-6175