Wednesday, June 02, 2021

A Scottish company competes for the plane of the National Airline of India

It seems unlikely that a Scottish company with 180 employees hijacked the plane of the National Airlines of India.

But Kane Energy is seeking authority to do this. This is the latest twist on the legal legend that is testing whether British Prime Minister Boris Johnson is willing to stand up for British companies when seeking a post-Brexit trade agreement. Out.

Cairn’s annual revenue is less than US$400 million, but its investors include companies such as BlackRock and Pioneer. Sue Air India Enforcement of the $1.2 billion plus interest ruling in New Delhi in New York-a total of $1.7 billion.

The oil and gas company is trying to prove that Air India is the “other self” of the Indian government and “therefore it is common.” .. Responsible for India’s own debts and obligations”, a move that may pave the way for the U.S. Marshals to seize the airline’s aircraft. It even hired attorney Dennis Hranitzky, who helped in 2012 Seizure of an Argentine warship Held in Ghana as part of a long battle between the American hedge fund Elliott Capital Management and Buenos Aires.

Kane’s award is Made by an international court In the Netherlands in December. If implemented, it may bring substantial returns to Kane shareholders and revive a company that has been stagnant for many years due to quarrels, which has been forced to divest assets, lay off employees and restrict investment.

But five months later, the government of Indian Prime Minister Narendra Modi (Narendra Modi) showed no signs of planning to pay.

This case is one of several cases between a Western company and New Delhi.Vodafone has also become Involved in a quarrel With India’s tax authorities, they demand arrears of 3 billion euros.

It happened during the sensitive period of Anglo-Indian relations.Last month’s country Outlines the “Roadmap for 2030” Strengthen ties between trade and national defense. London hopes to start negotiations on a comprehensive trade agreement this fall.

02/06/21 Agnes Zang/News Now

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