ISDS Case Map
finance | banking | taxes
The South Korean government has opted for an international arbitration over its longstanding dispute with Lone Star Funds after it turned down the US fund’s final $870-million out-of-court settlement proposal.
Lone Star Funds, which is in litigation against the South Korean government at the International Centre for Settlement of Investment Disputes, suggested US$870 million as a concession.
Solicitor General Tushar Mehta has advised the government that the decision of an arbitration tribunal cannot contradict the law passed by a sovereign parliament.
The scope of consent to arbitration is an important issue that needs to be finally settled - not least because it could have multi-billion dollar implications for India in respect of other cases involving challenges to India’s taxation measures by foreign investors.
Trade talks with the EU remain uncertain, with negotiations focused on issues like fishing that have little bearing for the City. But in the meantime, Japan has given “global Britain” — and particularly the City — something to celebrate.
OTP Bank has sued the Croatian government to recover about $34.60 million it lost during a mandatory conversion of Swiss franc-denominated loans to euro-based loans in 2015.
Greek investors who were affected by the Cyprus bail-in have sought legal resort and now seem to stand a fair chance to have their case tried and possibly recuperate a portion of their losses in a mass arbitration to be held before the ICSID.
The Indian government plans to contest the judgement on the Vodafone arbitration award in Hague.
Cairn is seeking full restitution for losses resulting from the expropriation of its investments in India in 2014.
India will try and keep its taxation laws out of the ambit of all Bilateral Investment Treaties (BITs) and comprehensive economic pacts that it negotiates.
