India Files Appeal In $1.2 Billion Cairn Arbitration Case: Report
NDTV
The appeal, filed on Monday in a Dutch court, comes as Cairn is pulling out all the stops to recover the damages award, including hiring a team of asset recovery experts.
India has appealed against an order by an international tribunal to pay $1.2 billion in damages, plus other costs, to Cairn Energy in a long-running tax dispute, two sources with direct knowledge of the matter told Reuters. London-listed Cairn in December was awarded damages of $1.2 billion plus interest and costs, taking the current total to over $1.7 billion. India, which is now liable to make this payment, had said previously it would challenge the order. The appeal, filed on Monday in a Dutch court, comes as Cairn is pulling out all the stops to recover the damages award, including hiring a team of asset recovery experts.More Related News