Cairn Asks DC Court To Enforce $1.2B Tax Award Vs. India
Law360 (February 16, 2021, 9:23 PM EST) -- Britain's Cairn Energy asked a Washington, D.C., federal court to enforce its $1.2 billion arbitral award against India, which the company won after a dispute with the Asian nation's revenue authority over a retroactively applied capital gains tax.
In a petition filed Friday, Cairn Energy PLC and its U.K. holding company sought to have the U.S. District Court for the District of Columbia recognize and confirm the Dec. 21 award from a three-member tribunal at the Permanent Court of Arbitration in the Netherlands. The tribunal ruled that India's government breached an investment treaty with the U.K. and was therefore liable to pay....
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