ISDS Case Map
finance | banking | taxes
Bahrain has been ordered by the Permanent Court of Arbitration in The Hague to pay over €200 million in damages plus costs to two Iranian banks for the unlawful moves against their operations.
The arbitration has been discontinued in response to the non-payment of the claimant’s portion of the required advance payment of the costs of the proceeding.
The settlement is under the Taxation Laws (Amendment) Act, introduced this year to put an end to 17 tax disputes India has with multinational companies like Cairn and Vodafone Plc.
Cairn Energy will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a $1 billion refund resulting from the scrapping of a retrospective tax law.
HSBC Holdings said the banking group has initiated legal proceedings against El Salvador for what the company called a breach of the nation’s investment treaty with the UK.
An arbitration tribunal in 2020 awarded Devas more than $111 million plus interest in retro tax case.
India proposed scrapping a controversial law that taxed companies retrospectively, a move that could potentially settle its multi-billion-dollar tax cases with Cairn Energy and Vodafone.
The government confirmed that a French court has ordered the freezing of certain Indian assets on a petition by Britain's Cairn Energy, which is seeking to recover USD 1.72 billion arbitration award.
African nations plan to raise about $8 billion for a fund to help offset revenue losses for countries that lower cross-border tariffs, as part of a continent-wide free-trade agreement.
The centrally located properties mostly comprise flats, valued at more than EUR 20 million, used by the Indian government establishment in France.
