Cairn Moves to Seize Air India Assets to Recover Hefty Award against India: Worthwhile Choice or a Futile Exercise?
In May 2021, Cairn Energy PLC filed a lawsuit before a New York Court to enforce a USD 1.2 billion investor-State arbitral award against India passed by the Permanent Court of Arbitration. It sought, in particular, a proclamation that State-owned entity (SOE), Air India “should be held jointly and severally responsible for India’s debts, including…