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Cairn Energy lawsuit in US against Air India may stumble over precedent May 25, 2021 × The key issue would be whether Air India is an alter ego of the Government of India A lawsuit filed in New York by Cairn Energy Plc seeking to declare national carrier Air India as an alter ego of the government to pressurise India to pay the $1.2 billion arbitration award the British oil and gas firm won in a retrospective tax dispute, could stumble if the court takes a recent similar case as a precedent. The precedent relates to a case brought by Lithuanian creditors against Tajik Air, the national airline of Tajikistan, to enforce a $20 million award. ....
May 24, 2021 × LDA paid the award amount to the government in three tranches with the final instalment in October last year India has executed the $7.16 million award issued against French shipping firm Louis Dreyfus Armateurs SAS (LDA) relating to a failed cargo terminal contract at state-owned Kolkata Port Trust. This was confirmed by the government and Foley Hoag LLP, the U.S.-based law firm that acted as the counsel to the Indian government in the arbitration and the subsequent enforcement proceedings. “India has already executed the $7.16 million award issued against LDA in the underlying arbitration through enforcement proceedings in France. LDA has settled the entire amount due under the award,” said Sudhanshu Roy, International Associate at Washington-based Foley Hoag LLP. ....