Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Must be using the same legal advise as Sturgeon, aka Jimmy Krankie.
What on earth would they do with the planes if they could seize them. Even the legal precedent, if achieved, wouldn't get them access to any asset, unless they have armed forces. Utter nonsense and a complete waste of legal expense.
They've earned themselves a seat in Holyrood, where similar grandiose and unrealistic commercial claims also exist.
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Cairn Energy PLC
Cairn Energy sues Air India over $1.2bn arbitration award
Latest step in tax dispute with New Delhi could lead to UK oil group seizing planes and other assets
Workers load an Air India plane
Cairn Energy’s lawsuit seeks to establish that Air India is the ‘alter ego of the Republic of India’ and therefore is liable for the obligations of India itself © AP
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Benjamin Parkin in Bangalore, George Parker in London and Nathalie Thomas in Edinburgh 5 hours ago
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A Scottish energy company has launched a lawsuit aimed at allowing it to seize the planes of state-owned Air India, in an escalating tax dispute with Narendra Modi’s government.
Cairn Energy is suing Air India in the US to enforce a $1.2bn plus interest award — it is now worth more than $1.7bn — in one of a number of disputes between western companies and New Delhi.
The lawsuit, filed in the southern district of New York on Friday, seeks to establish that Air India is “the alter ego of the Republic of India and therefore jointly and severally liable for the debts and obligations of India itself”.
It is a legal process that could lead to Cairn Energy trying to seize aircraft and other assets as part of a long-running tax dispute, although talks to settle the case are continuing.
The Edinburgh company has identified $70bn of Indian-owned assets globally that could potentially be pursued, including in London.
If the New York case proves that Air India assets are exposed in the dispute, Cairn Energy believes it should set a precedent for other state-owned assets. New York’s legal system is the focus of the company’s efforts because of its record in dealing with international disputes of this kind.
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UK prime minister Boris Johnson is under pressure from the Labour opposition party to stand up for Cairn Energy and other comp