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Exclusive-Luxembourg banks told to freeze Ecuador assets amid Perenco dispute, documents show

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Reuters UK

By Rowena Edwards and Karin Strohecker LONDON (Reuters) -A Luxembourg bailiff has ordered banks to freeze assets held by Ecuador at accounts in the country as a result of a dispute over a $391 million settlement award that Anglo-French oil company Perenco says remains unpaid, a document seen by Reuters show. Ecuador’s government pledged in June 2021 to honor the debt, awarded Perenco by the World Bank’s International Centre for Investment Disputes (ICSID) which ruled Ecuador had unlawfully ended a production-sharing agreement with the company. The country’s solicitor general said last year tha…

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