Now they've got to collect.
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San Francisco
March 30 (Bloomberg) -- Chevron Corp. has been awarded about $700 million by an international arbitration court that ruled in favor of its claim against Ecuador over past operations at its Texaco unit, the company said.
The tribunal found that Ecuador's courts delayed rulings on a contract dispute between Texaco and the Ecuadorian government, violating international law, Chevron said in a statement. The Hague-based Permanent Court of Arbitration awarded Chevron principal damages and interest as of Dec. 22, 2006, pending further proceedings to determine taxes, interest and costs, the San Ramon, California-based company said.
