Cairn discussing proposals with India on arbitration award
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New Delhi, Feb. 22 -- Cairn India has discussed a number of proposals with the aim of finding a swift resolution that could be mutually acceptable to the Government of India and the interests of Cairn's shareholders.
An international arbitration seated in The Hague and constituted under the terms of the UK India Bilateral Investment Treaty has ruled conclusively on the matter and issued a final and binding award in Cairn's favour ordering the refund of the value of the assets taken, being $1.2 billion, plus significant interest and costs. That arbitration also ruled decisively that this matter falls within the jurisdiction of the UK-India Treaty, having heard arguments from the parties on that subject.
Cairn has enjoyed a long and succe...
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