As you may recall Judge Lewis A. Kaplan of the Southern District of New York previously issued a injunction barring worldwide enforcement of a multi-billion dollar judgment obtained against Chevron in Ecuador. Plaintiff appealed and a three Judge Panel from the Second Circuit Court of Appeals just issued an interim decision staying that part of Judge Kaplan's injunction which bars enforcement(plaintiffs can seek to enforce) but kept in place that part of the injunction which enjoins the raising of funds to mount an enforcement action.
My opinion; Huge victory for plaintiffs, huge blow to defendant Chevron!
I believe the Panel is sending a message to the litigants...The message being, maybe the US Courts will not get involved in each and every international dispute.
Will keep you posted.
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