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The PRC has passed a new Foreign State Immunity Law which will apply the “restrictive” approach to foreign state immunity with effect from 1 January 2024. As a result, foreign states will not be granted immunity from suit or execution in the PRC in respect of commercial activities. The PRC government has indicated that the … Read more
The Government of India has lost the first of three keenly anticipated decisions on the retrospective tax liabilities introduced by statute in 2012 to reverse the ruling of the Indian Supreme Court in the Vodafone case. The legislation was introduced in the Finance Act 2012 to reverse the Supreme Court’s ruling that Vodafone was not … Read more
In the decision of Reliance Industries Limited & Ors v The Union of India [2018] EWHC 822 (Comm) the English Commercial Court (the Court) considered a number of challenges to an arbitration award brought under sections 67, 68 and 69 of the Arbitration Act 1996 (the 1996 Act). In relation to certain of the challenges … Read more
The Government of India says it has sent notices to terminate bilateral investment treaties (BITs) with 58 countries, including 22 EU countries. It has been reported that many of these BITs will cease to apply to new investments from as early as April 2017. The BIT between India and The Netherlands (which had been a … Read more
As previously noted in April 2015, India amended its model bilateral investment treaty (the Indian Model BIT) and has reportedly been deploying it in recent months to seek to re-negotiate bilateral investment treaties (BITs) with over 47 countries (see previous post of July 2016). One of these negotiations was with Brazil, a country historically known … Read more
On 6 June 2015, the 1974 India Bangladesh Land Boundary Agreement entered into force, following the exchange of instruments of ratification by Prime Minister Narendra Modi of India and Prime Minister Sheikh Hasina of Bangladesh, during a State visit to Bangladesh by Prime Minister Modi. The Agreement provides for the exchange of pockets of Indian … Read more
As reported in our recent blog post here, India has recently released a draft “Model Text for the Indian Bilateral Investment Treaty” (“Model BIT“). Head of the India Arbitration Practice, Nick Peacock was invited to comment on the Model BIT for CNBC TV18’s The Firm, India’s only television programme covering corporate law, M&A, financial regulation, … Read more
The Government of India (“GOI“) has recently published a draft “Model Text for the Indian Bilateral Investment Treaty” (“Model BIT“), which is understood to be intended to revise India’s model bilateral investment treaty of 1993 and to serve as a framework for the renegotiation of India’s over 80 bilateral investment treaties (“BITs“) which are currently … Read more