RSS Feed

NEWSFLASH: WHITE INDUSTRIES’ INVESTMENT CLAIM PREVAILS AGAINST INDIA

There is no official confirmation or announcement. However, IA Reporter has – true to its reputation – broken the news. It seems White Industries’ claim for violation of India-Australia BIT due to protracted delays in the Indian judiciary (which has kept a 2002 ICC award against Coal India of around Aus. $ 4 million in the limbo till date) have been accepted. This case is extremely interesting as the cause of action arises from the delay in enforcement of an international commercial arbitration award. Investment arbitration becoming the final ‘court of appeal’ for international commercial arbitration is something that has been on the radar of academicians for sometime – and this award will give some food for thought. We will report in more detail on the case once it is available in the public domain.

In the meantime, you may be interested in some background to the dispute – we refer you to this post at Practical Academic blog. Probably, there is no other more comprehensive source of information on the background available on the internet.

Readers may be interested to know that the White Industries appeal against Coal India is one of the cases pending at the Indian Supreme Court and tagged in the Bhatia International review which is considering whether Indian courts have jurisdiction to entertain challenge of foreign awards.

About these ads

3 responses »

  1. Panagiotis Chalkias

    Forgive me if I am wrong, but it is fair to assume that India will not comply with the new treaty-based arbitral award while annulment proceedings are pending against the initial ICC award. No matter how long these proceedings will take, the UNCITRAL tribunal should have stayed the proceedings. The duplication of proceedings certainly harms predictability.

    Reply
  2. Sumit – the award is available on the net now.

    http://ilcurry.files.wordpress.com/2012/02/white-industries-award-ilcurry.pdf

    Have a look. Also will send you a news article on this later.

    Reply
  3. This is a part of the process when you do business overseas and you have to deal with the country’s legal system. There may be delays where in your normal home country there wouldn’t have been. It’s a tough process to work through but its the business goes. That is why local counsel who has a good knowledge of how the system actually works should be recommended and used.

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 171 other followers

%d bloggers like this: