finance | banking | taxes


Int'l tribunal brings to close decade-long S. Korea-Lone Star dispute settlement
An international tribunal declared an end to all proceedings in a multi-billion dollar suit the US private equity firm Lone Star filed against South Korea's government 10 years ago.
Britain launches free trade deal talks with Mexico
Britain is launching talks over a free trade deal with Mexico, looking to add services to its current agreement as well as aiming to increase trade in the financial and digital sectors.
Russia's Sberbank to appeal against Ukraine's move to seize its assets
Russia's top lender Sberbank initiated investment arbitration proceedings against Ukraine after its parliament approved a presidential decree allowing for the forced seizure of Sberbank-owned assets in the country.
India pays back Cairn Rs 7,900 crore to settle over 7-year-old retro tax dispute
The company, which is now known as Capricorn Energy PLC, in a statement said it has received "net proceeds of $1.06 billion", of which nearly 70 per cent will be returned to the shareholders.
Cairn says completed all steps of retro tax repeal law, eligible for ₹7,900 cr tax refund
As part of the settlement reached with the Indian government over the levy of back taxes, the company has withdrawn all cases that were brought to collect the tax refund ordered by an international arbitration tribunal.
Cairn withdraws all lawsuits against India
Britain’s Cairn Energy has dropped all lawsuits against the Indian government and its entities in courts from the US to France and to Singapore, to now be entitled for about Rs 7,900 crore refund of taxes.
Romania wins EUR 2 bln dispute at ICSID against Romanian-Swedish investors Micula
A committee attached to the Washington International Court (ICSID) definitively rejected the €1.8 bln claims of Romanian-Swedish investors Ioan and Viorel Micula.
Croatia to pay €40m to US investment company to settle 20-year-old dispute
The Croatian government okayed the out-of-court settlement between Croatia and the American Colgate McCallum investment management company, which will see Croatia pay €40m to the company.
Bahrain loses case against Iran banks
Bahrain has been ordered by the Permanent Court of Arbitration in The Hague to pay over €200 million in damages plus costs to two Iranian banks for the unlawful moves against their operations.
ICSID arbitral tribunal discontinues arbitration case against Cyprus
The arbitration has been discontinued in response to the non-payment of the claimant’s portion of the required advance payment of the costs of the proceeding.