Chevron case is textbook application of Canadian corporate law

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A Canadian court has ruled that the fraudulent Ecuadorian judgment against Chevron Corporation cannot be enforced against Chevron Canada Limited, an indirect subsidiary.

Claim against Chevron Canada dismissed

The court found that Chevron Canada Limited is a separate entity from Chevron Corporation, not a party to the Ecuadorian lawsuit and not a debtor to the judgment. In its decision, the court stated, “Chevron [Corporation] and Chevron Canada are separate legal entities with separate rights and obligations.” As a result, the court found that “plaintiffs’ claim cannot succeed against Chevron Canada” and dismissed the claim against it.

This video from The Financial Post explains the case. 

Read more at Yahoo Finance

This article is summarized by Canadian Fraud News Inc.