Cairn Energy said on Sunday that it had discussed multiple proposals with Indian government officials in recent days in an attempt to find a ‘swift solution’ to a long drawn-out tax dispute with the South Asian nation, Reuters reported.
In December, an arbitration body awarded the British firm damages of $1.2 billion plus interest and costs, after ruling India had breached its obligations to Cairn under the UK-India Bilateral Investment Treaty. FE Bureau adds: As reported by FE earlier, the Indian government wants Cairn to settle the dispute using the Vivad se Vishwas scheme.
Read moreAmazon Sellers Attorney, a lawyer-supervised suspension appeal service, announced today that a Washington arbitrator has denied Amazon.com (AMZN) the right to retain a customer’s gift card balance after cancellation of his account. In an arbitration against Amazon Services, LLC brought by Wesley Nahm, the arbitrator awarded over $100,000 in gift card proceeds after Amazon cancelled the buyer’s account. Amazon claimed that it reasonably suspected that Nahm either obtained or applied gift card balances fraudulently, unlawfully, or in violation of the Gift Card Terms. However, Amazon presented no evidence to support its suspicions other than an unusually large balance and the large number of refunded transactions.
Read moreSen. Elizabeth Warren, D-Mass., prodded Robert Cook, CEO of the Financial Industry Regulatory Authority, Thursday in a letter to “conduct a thorough review” of Robinhood’s activities during the GameStop trading frenzy.
In her letter, Warren also asked Cook to explain how FINRA will respond to Robinhood’s role “in recent market volatility, its decision to cut off customers’ trading, and the broader concerns about market fairness that these events represent.”
Read moreSir Geoffrey Vos, Chancellor of the High Court, has announced that the UK Jurisdiction Taskforce of the Lawtech Delivery Panel (now known as Lawtech UK) will launch a public consultation on the introduction of a standard form English law and jurisdiction dispute resolution process and accompanying clause to be included in smart contracts and blockchain engagements.
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