4 March 2018
Cleber has assisted Cairn Energy PLC in an investment arbitration administered by the PCA at the Hague against the Republic of India that resulted in an award ordering India to pay US $1.2 billion, plus interest and costs, to compensate Cairn Energy Plc and Cairn UK Holdings Limited for shares sold by the Indian Income Tax Department after it had levied taxes under India’s retrospective tax regime. Maarten Drop acted as Dutch co-counsel in a team of lead counsel Mark McNeil of Quinn Emanuel, New York and comprising Niti Dixit of S&R Associates in Delhi.
Cleber has assisted Cairn Energy PLC in an investment arbitration administered by the PCA at the Hague against the Republic of India that resulted in an award ordering India to pay US $1.2 billion, plus interest and costs, to compensate Cairn Energy Plc and Cairn UK Holdings Limited for shares sold by the Indian Income Tax Department after it had levied taxes under India's retrospective tax regime. Maarten Drop acted as Dutch co-counsel in a team of lead counsel Mark McNeil of Quinn Emanuel, New York and comprising Niti Dixit of S&R Associates in Delhi.