ISDS Case Map
finance | banking | taxes
The arbitral award has condoned the tax avoidance scheme adopted by Cairn Energy.
The perverse interplay of BITs with double taxation avoidance agreements has been bleeding India from the much-needed tax revenues.
The Paris Court of Appeal has set aside a $1.1 billion award against Russia for the expropriation of the Crimean branch of Ukrainian state-owned bank Oschadbank.
The international economic law regime has stripped India of over $3.8 billion in taxes due by Vodafone and Cairn Energy, as the country is battling the Covid19 crisis.
Cairn Energy has offered to invest the entire award money in India, which includes the principal amount of $1.2 billion and interest of $500 million if the government agrees to enforce the award.
A PCA tribunal dismissed India’s jurisdictional objections and found it in breach of the FET standard in the India–UK BIT in an arbitration under UNCITRAL rules initiated by Cairn Energy.
The Paris Court of appeal set aside the arbitral award issued in the dispute Oschadbank v. the Russian Federation, finding that the tribunal lacked temporal jurisdiction.
A free trade agreement and double taxation treaty are among several frameworks being worked on by the UAE and Israel to increase trade and investments flows between the two nations after they normalised relations last year.
According to sources related to the Lone Star ISD, the tribunal is expected to give a final ruling on Lone Star versus the Korean government case that has dragged on for nine years within the first half.
Oschadbank plans to immediately appeal against the judgment of the Paris Court of Appeal, which rejected the award in the case against Russia over compensation for losses caused by the occupation of Crimea.
