Please use this identifier to cite or link to this item: http://hdl.handle.net/10739/5091
Title: Cairn moves to seize Air India assets to recover hefty Award against India: Worthwhile choice or a futile exercise?
Authors: Basu, Oiswarjya
Bose, Shatrunjay
Keywords: Arbitration
Investor-State
Sovereign Immunity
Cairn Energy
Issue Date: 8-Aug-2021
Publisher: Kluwer Arbitration Blog (Wolters Kluwer)
Citation: Basu, O. and Bose, S. (August 08, 2021). Cairn moves to seize Air India assets to recover hefty Award against India: Worthwhile choice or a futile exercise?, Kluwer Arbitration Blog (Wolters Kluwer).
Abstract: 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 from any judgment resulting from recognition of the award” (Complaint, ¶ 31). A detailed account of the facts of this case can be accessed here. The protection of States’ assets against enforcement actions has remained an insufficiently explored area of international law, even though the doctrine of sovereign immunity is central to this discourse. This post compares and analyses cases where States have invoked sovereign immunity to resist attachment of assets of SOEs like Air India and the rationale adopted by courts towards piercing the corporate veil to ascertain whether they may be treated as the State’s “alter ego”.
URI: http://hdl.handle.net/10739/5091
Appears in Collections:JGU Publications: Popular Articles, Literary items, Opinions, Reviews etc.

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