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Cairn asked the US court to recognise and confirm the award, including payments due since 2014 and interest compounded semi-annually, according to the Feb. 12 filing seen by Reuters.
The case marked a first step in the company's efforts towards recovering its dues, potentially by seizing Indian assets, if the government did not pay
Cairn Energy has filed a case in a US district court to enforce a $1.2 billion arbitration award it won in a tax dispute against India, a court document showed, ratcheting up pressure on the government to pay its dues. In December, an arbitration body awarded the British firm damages of more than $1.2 billion plus interest and costs. The tribunal ruled India breached an investment treaty with Britain and said New Delhi was liable to pay. Cairn asked the US court to recognise and confirm the award, including payments due since 2014 and interest compounded semi-annually, according to the Fe...
To Make India Pay $1.2 Billion Award, Cairn Files Case In US To Make India Pay $1.2 Billion Award, Cairn Files Case In US Cairn asked the US court to recognise and confirm the award, including payments due since 2014 and interest compounded semi-annually, according to a February 12 filing The case marked a first step in Cairn's efforts towards recovering its dues Cairn Energy has filed a case in a U.S. district court to enforce a $1.2 billion arbitration award it won in a tax dispute against India, a court document showed, ratcheting up pressure on the government to pay its dues. In Decem...
Cairn Energy files case in US to push India to pay $1.2 billion award Top Searches Cairn Energy files case in US to push India to pay $1.2 billion award Reuters / Feb 16, 2021, 19:50 IST FacebookTwitterLinkedinEMail Cairn aims to enforce the award under international arbitration rules and recover losses caused by India's 'unfair and inequitable treatment of their investments'. (File photo) NEW DELHI: Britain's Cairn Energy has filed a case in a US district court to enforce a $1.2 billion arbitration award it won in a tax dispute against India, a court document showed, ratcheting up pressure ...