U.K. Energy Companies Petition U.S. Court To Enforce $1.2B Award Against India

(February 17, 2021, 10:36 AM EST) -- WASHINGTON, D.C — Two United Kingdom-based energy companies on Feb. 12 filed a petition in District of Columbia federal court to confirm a Permanent Court of Arbitration (PCA) award in their favor worth more than $1.2 billion against the Republic of India for India’s retroactive imposition of tax liability on the companies’ capital gains from a 2006 reorganization and subsequent forced sale of one company’s equity shares worth approximately $1 billion....