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Expert Analysis

Analyzing Illegality Defense Trend In Investor-State Arbitration

By Caline Mouawad and Jessica Beess und Chrostin ( February 16, 2021, 4:42 PM EST) -- On Dec. 21, 2020, a Permanent Court of Arbitration tribunal comprised of Laurent Levy, Stanimir Alexandrov and Christopher Thomas rendered an award in Cairn Energy PLC and Cairn UK Holdings Ltd. v. Republic of India, awarding the British oil and gas company $1.2 billion in a tax dispute with India over the retroactive application of a capital gains tax.[1]...

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