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.
UK registered mining company Lydian is using corporate courts to bully the Armenian government into cracking down on public protests that have successfully resisted a gold mine.
The Armenian government is currently being sued by a corporation for two thirds of its entire government budget. If the UK crashes out on 31 October, it could suffer a similar fate.
Parliament’s trade committee says it is alarmed by government’s failure ‘to set out even basic lines of policy’ on how international arbitration will work after Brexit.
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.
The company’s Canadian and British subsidiaries have already announced their intention to initiate arbitration proceedings against Armenia in accordance with bilateral agreements if the matter is not resolved.