Worley chief executive Chris Ashton. The company refutes allegations that it bribed Ecuadorean government officials.Credit:Dion Georgopoulos
Shares in the company lifted 0.8 per cent after trading resumed on Wednesday.
An international arbitration tribunal made up of three senior lawyers dismissed Worley’s claims against the Ecuadorian government because it found Worley engaged in a “widespread pattern of illegality and bad faith”. The contracting giant told shareholders in December the tribunal rejected its claims on “jurisdictional grounds”,and made no reference to the damning comments of graft behind the ruling.
“The tribunal’s decision to dismiss the arbitration is based on jurisdictional and admissibility groups relating to corruption,illegality and bad faith by Worley and a subcontractor,including wilful blindness by Worley to the subcontractor’s corruption,” the company said in a statement to the ASX at 3.30pm on Wednesday.
“Worley denies any corruption,illegality or bad faith on Worley’s party. In particular,Worley did not breach anti-bribery and corruption laws. Worley takes its responsibilities under such laws extremely seriously.”
Worley,which has a subsidiary in the United States,took Ecuador to the tribunal in 2019 under the Bilateral Investment Treaty between the US and Ecuador,seeking payments of about $700 million.