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Cairn’s $1.4 Billion India Tax Dispute Ruling Delayed by Virus

July 22, 2020, 2:11 PM

An international arbitration panel has indicated to Cairn Energy Plc that it expects to resolve a billion-dollar tax dispute between the energy giant and India after this summer.

Cairn said Tuesday that it was told by the tribunal at The Hague that it had “encountered difficulties created by the Covid-19 pandemic,” but doesn’t expect any other significant delays. The company had said in its 2019 year-end results that it expected the tribunal to reach a decision this summer.

  • Cairn in 2016 used a U.K.-India bilateral investment treaty to challenge India’s retroactive imposition of a tax on the internal corporate restructuring ...

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