Ecuador and Perenco agree on payment schedule to settle ICSID arbitration award in full

Ecuador has agreed to pay in full the arbitral award handed down by the ICSID Arbitral Tribunal in Perenco Ecuador Limited v. Republic of Ecuador case (ICSID Case No. ARB/08/6), according to a press release issued by its Ministry of Economy and Finance.  The South American country was ordered to pay Perenco over USD 374 million in damages, legal fees, interest and costs.