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Arbitration tribunal delays award in ₹10,247-cr Cairn retro tax case to mid-2020
The tax department had sought ₹10,247 crore in taxes on alleged capital gains made by the company in the internal reorganisation
Japan braces for US pressure on services in next trade talks
The Office of the US Trade Representative released late last year a summary of negotiating objectives spanning 22 areas, including telecommunications and financial services.
Barrick Gold reaches deal with Tanzania over Acacia Mining
Barrick Gold Corp said it had reached a deal to settle a long-running tax dispute between Tanzania and mining group Acacia.
Argentina and other states adopt currency restrictions, raising potential investment treaty claims
Argentina introduced a number of new restrictions on foreign currency transactions, reversing its four-year-old policy that had eliminated such controls, which may give rise to investment treaty claims by foreign investors.
City of London representatives head to US to promote post-Brexit finance ties
Representatives from the City of London are to travel to the US in a bid to boost transatlantic ties for the finance sector post-Brexit.
International arbitration for Banco del Orinoco
Bank of Orinoco has initiated an international arbitration against the Netherlands over alleged discriminatory and irrational measures by the government of Curaçao.
BTRC may face investment arbitration soon
With the serving of show-cause notices on Robi and Grameenphone as to why their licences will not be cancelled for not paying the so-called ‘dues’, the Bangladesh Telecommunication Regulatory Commission has come closer to facing investment lawsuits.
Hague court declines Russia’s request to reconsider liability under PrivatBank’s Crimea claim
PrivatBank commenced the arbitration on April 13, 2015, for breaches of the Russian Federation’s obligations towards PrivatBank’s assets in Crimea.
Cairn arbitration award may be protracted, not expected before 2019-end
UK’s Cairn Energy on Tuesday said the arbitration process against India on imposition of retrospective tax demand is likely to be protracted and a decision is not expected before late 2019.
Latvian bank that accused central bank head to be wound up: ECB
Anglo-Russian businessman Grigoriy Guselnikov, the bank’s former owner who sold his shares, has brought a request for international arbitration against Latvia.
Kenya ties on the table
Barbados is looking to enter into a double taxation agreement and a bilateral investment treaty with Kenya.
S. Korea to launch task force to handle lawsuits by global investors
South Korea’s financial regulator said it will launch a task force later this month to handle lawsuits filed by global investors, such as US private equity fund Lone Star.
Russian fund sends notice of arbitration to Lithuania
The Fund for Protection of Investors’ Rights in Foreign States sent an notice of arbitration against Lithuania for the illegal expropriation of the Bank “Snoras”, in accordance with the investment agreement between the Russian Federation and the Republic of Lithuania.
Nepal has strong case on Ncell arbitration
Axiata UK may be required to exhaust local remedies before resorting to arbitration under the UK-Nepal investment treaty
Axiata seeks arbitration in Nepal tax case
Axiata Group’s UK subsidiary and Nepal mobile unit filed a request for arbitration with the International Centre for the Settlement of Investment Disputes, regarding a capital gains tax bill levied by Nepali authorities.
Japan’s Aso opposes linking currency with trade in US talks
Japan’s Finance Minister Taro Aso pushed back against US efforts to link the yen with bilateral talks aimed at striking a trade deal.
Bulgaria says Oman has withdrawn arbitration claim over Corpbank
Oman’s sovereign wealth fund has withdrawn an 80 million euro claim against Bulgaria over the collapse of Corporate Commercial Bank (Corpbank), the Bulgarian finance ministry said.
Head of Montenegro’s troubled Atlas Banka sues president, central bank governor
Atlas Group is seeking payment of €500mn in damages from Montenegro at an international court.
Quantifying the policy space for regulating capital flows in trade and investment treaties
The international trade and investment treaty regime is increasingly restricting the policy space for regulating cross-border financial flows, study finds.
Cairn Energy’s retro tax arbitration award delayed
Cairn Energy said it expects the long-running arbitration process against the Indian authorities over retrospective taxation to be concluded before late 2019.