The government risks losing up to Sh500 billion in an international arbitration case against mining firm, Cortec, after it failed to provide Sh100 million in the second mini-budget to pay a UK-based law firm representing it in the case.
Under international arbitration proceedings the final hearing of Cairn’s claim under the UK-India Bilateral Investment Treaty is scheduled for August 2018 in The Hague.
Plusieurs sociétés minières internationales réclament 3,3 milliards de dollars au Kenya auprès du Centre international pour le règlement des différends relatifs aux investissements.
The government has opposed Vodafone Group’s proposal to merge its two arbitration cases against India, and sought an injunction from Delhi High Court to stop the telco from proceeding with the second arbitration filed in the UK, saying it was an "abusive action".
Vodafone Group has said it would agree to consolidate its two international arbitrations initiated against India in connection with a tax demand of ₹11,000 crore, if the country were to agree as well.
A British investment group has demanded USD 500 million from Russia and accused the country of state-sponsored corporate theft in a battle for control of a Siberian coal mine.
An international arbitration tribunal in February will begin trial on Vodafone’s challenge to India using a retrospective legislation to seek Rs 22,100 crore in taxes.