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.
A committee attached to the Washington International Court (ICSID) definitively rejected the €1.8 bln claims of Romanian-Swedish investors Ioan and Viorel Micula.
The shareholders had sought the right to seize all sum or moveable property of India and/or AAI being held by the International Air Transport Association.
Chile’s state-controlled Codelco requested a second international arbitration process with Ecuador and its National Mining Company (Enami EP) over the Llurimagua copper project.
Enagás considers that the future dividends of this project amount to 186 million dollars that would be added to the almost 400 million that it hopes to recover from the other arbitration.
The analysis of the existing approach adopted by tribunals does not give rise to much hope of ICSID tribunals’ ability to understand and apply the principle of sustainable development.
Talks on a possible COVID-19-related TRIPS decision aimed at scaling up vaccine and therapeutics production and equitable distribution continue but investment agreements are absent from them.
In a final award, dated January 25, 2021, an ICSID tribunal ordered Spain to pay damages to German investors in compensation for the clawback of a subsidy regime.