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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.
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.
Cairn Energy moves to settle $1 billion tax dispute with India
The settlement is under the Taxation Laws (Amendment) Act, introduced this year to put an end to 17 tax disputes India has with multinational companies like Cairn and Vodafone Plc.
Cairn accepts $1 billion refund offer, to drop cases against India within days: CEO
Cairn Energy will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a $1 billion refund resulting from the scrapping of a retrospective tax law.
HSBC initiates legal proceedings against El Salvador claiming breach of treaty with UK
HSBC Holdings said the banking group has initiated legal proceedings against El Salvador for what the company called a breach of the nation’s investment treaty with the UK.
Income tax bill fails to address international arbitration, will continue fight: Devas
An arbitration tribunal in 2020 awarded Devas more than $111 million plus interest in retro tax case.
India to scrap retrospective tax law in olive branch to global firms
India proposed scrapping a controversial law that taxed companies retrospectively, a move that could potentially settle its multi-billion-dollar tax cases with Cairn Energy and Vodafone.
Africa nations plan $8 billion fund to offset trade-pact losses
African nations plan to raise about $8 billion for a fund to help offset revenue losses for countries that lower cross-border tariffs, as part of a continent-wide free-trade agreement.
Britain’s Cairn gets French court order to seize 20 Indian properties in Paris
The centrally located properties mostly comprise flats, valued at more than EUR 20 million, used by the Indian government establishment in France.
Israel, UAE sign double taxation prevention agreement
The tax treaty and the investment-protection agreement lay the groundwork for increasing economic cooperation.
The Cairn $1.4 billion award is patently illegal
The arbitral award has condoned the tax avoidance scheme adopted by Cairn Energy.
Denying India its tax revenue is neo-colonialism. Cairn Energy is the new East India Company!
The perverse interplay of BITs with double taxation avoidance agreements has been bleeding India from the much-needed tax revenues.
India has been short-changed by Vodafone and Cairn arbitral awards
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.
Arbitration case: Cairn Energy offers to invest $1.2 bn if India relents
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.
UAE and Israel move closer to tax treaty that will help boost foreign investments
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.
UK and EU reach agreement on post-Brexit financial services regulation
Three months after Britain exited the EU, London on Friday reached a cooperation agreement on financial services with Brussels but despite this first step rivalries between the two sides remain.
India files appeal against $1.4-bn Cairn arbitration award
India is believed to have challenged in a court in The Hague an arbitration tribunal verdict that overturned its demand for ₹10,247 crore in back taxes from Cairn Energy Plc — the second time in three months that it has refused to accept an international award against retrospective tax.