Page 5 - Foreign Arbitral News Today

Swedish companies are occasionally parties to financial contracts governed by English law – typically, as borrowers or guarantors under a cross-border financing arrangement or by the use of the International Swaps and Derivatives Association Master Agreement for their derivatives transactions. However, following Brexit, the enforceability of English court decisions in Sweden is less certain. Swedish parties entering into financial contracts that are governed by English law should carefully con...

In Switzerland, international arbitration is governed by Chapter 12 of the 1987 Private International Law Act (hereinafter: "PILA"). A recent (light) revision entered into force on 1 January 2021.

There are several statutory and procedural regimes that govern insurance disputes within the UAE, depending upon the dispute forum nominated by the parties...

Continuing our series on operating under foreign jurisdictions, Gerard Moore and Bruno Savoie look at a country where infrastructure is strongly funded and arbitration well established

Indian Express. That is just a smattering of the editorial responses to the news from last week that British oil company Cairn Energy successfully petitioned a French court to freeze real estate properties in Paris belonging to the Indian government valued at around $24 million. The company said the court order was a “necessary preparatory step to taking ownership of the properties and ensures that the proceeds of any sales would be due to Cairn”, based on the $1.2 billion arbitration awar...

In Norway, the Trademark Act 2010 regulates the registration, administrative opposition, cancellation and invalidation proceedings regarding trademarks. As well as the formal procedural requirements, the Trademark Act also contains the material requirements for trademark registration. This article answers FAQs about trademark litigation in Norway.

Advertisement Cairn v. India – Does Cairn Have Remedies in Light of Indias Attempts to Remove Funds from Overseas Indian Bank Accounts Monday, May 24, 2021 If a disputing party in an arbitration believes that receiving an arbitration award is a battle half won, wait until enforcement begins. The Cairn v. India 1 dispute is a classic example. BACKGROUND On December 21, 2020, the international arbitral tribunal (Tribunal) constituted in the case of Cairn Energy Plc and Cairn UK Holdi...

Explained: Why Cairn Energy is moving to seize Indian assets Explained: Why Cairn Energy is moving to seize Indian assets UK-based oil major Cairn Energy is taking swift steps to seize Indias foreign assets. The company recently won a $1.4 billion arbitration award against India. Here is all you need to know. advertisement UPDATED: May 17, 2021 16:20 IST The dispute dates back to 2015 when the Indian government sent a notice to Cairn Energy Plc regarding a retrospective tax demand. (Photo: Reut...

The finance ministry has asked public sector banks (PSBs) to be on high vigil against any attempt being made to seize their overseas deposits to recover USD 1.2 billion that the UKs Cairn Energy plc has been awarded against India levying retrospective taxes, sources said. Cairn had previously stated that it can seize Indian assets abroad if it is not paid USD 1.2 billion plus interest and cost that an international arbitration panel had awarded against levy of retrospective taxes. Cash of In...

Synopsis Cash of Indian banks lying in nations such as the US and the UK are said to be easy target for seizing and enforcing the arbitration award. To guard against such cash being taken over, the finance ministry has asked PSBs to be extra vigilant and immediately report back any attempt Cairn makes to legally attach the deposits, two sources aware of the matter said. Getty Images This will allow the Indian government to quickly take legal recourse to prevent the assets from being taken over,...