Member Info for EmeraldCarrots

I'm thinking the deal will be:-
The $1 billion.
$600 million (interest and legal fees of $700m less $100 million to get it sorted out).
The Indian Govenment could say they saved $100 million and sell thet to the voters.
Everyone happy.............. especially me!
All IMHO.

due to Brent crude price, which is now moving up.
All IMHO.

Indian Government. It's not surprising the way they have tried and tried to not pay the International Arbitration Court compensation award to Cairn. We had they won't pay any. Now they are looking at possibly having Air India planes handed over for Cairn to sell off they are offering only part of the award! It's all there in black and white for potential investors in India to see whet they are like ! They need their heads examined if you ask me. Look how dodgey we are??!! Please invest here!!!! LOL !!!!!!
All IMHO.

Indian Government. It's not surprising the way they have tried and tried to not pay the International Arbitration Court compensation award to Cairn. We had they won't pay any. Not they are looking at possibly having Air India planes handed over for Cairn to sell off they are offering only part of the award. It's all there in black and white for potential investors in India to see whet they are like ! They need their heads examined if you ask me. Look how dodgey we are??!!
All IMHO.

That would be the oil price effect.
My opinion is the drop in the price of Brent is wrong.
The Western world is opening up more and more.
The USA delta variant will not affect the USA economically IMHO.
I expect the oil price to bounce on Tuesday with the API report.
The world is using more and more oil, not less and less.
Alll IMHO.

I can't possibly see Cairn accepting this $1 Billion compensation without a very substantial part of the additional $700 million interest and costs they were also awarded by the court. The Indian Government are showing what they are like to international investors, and it does not paint a very good picture does it?? The way they carry on is shocking.
All IMHO.

https://www.ig.com/uk/news-and-trade-ideas/will-cairn-energy-shares-keep-rising-with-indias-amended-tax-law-210809

Investec buy’ with a target of 275 pence, and Barclays 315 pence I hear.
So what are we doing @ £1.69!
All IMHO.

and then the sp will spike up. Maybe we were stuck at £1.70 because the new law, although likely to be passed, had not actually been passed?? Hopefully the sp will setttle at a higher value than the £1.70, maybe £2.00 ish. Then we will be awaiting the Cairn RNS that advises what they intend to do following the law being passed. Of couse they could just say they note the law has been passed and will update the market in due course. I think Cairn will want a very substancial part of the interest and legal costs, so it will be interesting what transpires. The Indian Government are not stupid (I presume!) so they cannot expect Cairn to take the $1 billion and write off the $700 million of interest and legal fees. They cannot possibly think that.
All IMHO.

$1.2 Billion plus interest and legal costs are confirmed as in their bank. That WAS $12.7 Billion up until xmass I believe. It must be far more now. The Indian Govenment need to amend the law so the interest and legal costs can be included or negotiated. Unless both VOD and CNE agree to not pursue the interest and costs and presumably the other 15 or so companies (who I presume could take India to arbitration siting the decision already made for VOD and CNE) do so as well India will still be in a very big hole.
All IMHO.

mickey1122.
Do you know who the 17 plus Companies are?
Also I wonder if there are other imminent legal decisions that have prompted India to make the offer?
I wonder if they are in danger of losing the Cairn vs Air India case in the USA, which I believe might mean the aircraft get grounded and become Cairn assets to sell to help pay the bill???!!!!! This IMHO is a REAL possibility.
All IMHO.

Hmm. It actually says at least 17 other companies, but does not name them unfortunately:-
https://www.bbc.co.uk/news/world-asia-india-58110615

Hmm. It actually says at least 10 other compamies, but does not name them unfortunately:-
https://www.bbc.co.uk/news/world-asia-india-58110615

My point is the Indian Government will almost certainly have to change their position so the interest and the legal costs are included with the Compensation. I can't see Vodafone, with a market cap of 31 Billion £ accepting compensation without the interest and legal costs. If I were running VOD I would be extremely annoyed with the Indian Govenment and make them pay every penny (or cent!) of the compensation award. I think VOD and Cairn have india by it's nuts!
All IMHO.

Government. Vodafone have an International Arbitration ruling against the Indian Govenrnment. I would have thought this will remain in place until the Indian Government satify the award, and no doubt it includes interest and legal costs. So it's all very well the Indian Govenment are introducing a law that allows them to reimburse the 17 Companies they charged retrospective tax. However this new law says if you accept you don't get the interest and legal costs and commit to not pursuing them!! I very much doubt Vodafone will walk away. I also doubt all 17 Companies will simply accept this and walk away. Again the Indian Government are simply trying to NOT PAY THE BILLS they have been ordered by a court to pay!!
Again totally disgraceful..
All IMHO.

Government. Vodafone have an International Arbitration ruling against the Indian Govenrnment. I would have thought this will remain in place until the Indian Government satify the award, and no doubt it includes interest and legal costs. So it's all very well the Indian Govenment are introducing a law that allows them to reimburse the 17 Companies they charged retrospective tax. However this new law says if you accept you don't get the interest and legal costs and commit to not pursuing them!! I very much doubt Vodafone will walk away. I also doubt all 17 Companies will simply accept this and walk away. Again the Indian Government are simply trying to NOT PAY THE BILLS they have been ordered by a court to pay!!
Again totally disgraceful.
All IMHO.

Yes. It seems to me that even if one of the 17 Companies does not agree to write off the interest and legal fees (and why should any of them?) India are back to square one. They need to either pay the interest and legal fees as well, or create a mechanism for negotiating that part. Simply saying agree the compensation without the legal fees and interest is not going to work IMHO. especially with Vodafone who have nothing to lose. The Indian Govenment have a massive problem. Some of the papers may say all is well now but that is simply not the case. They need the International Arbitration actions stopped and IMHO that is not going to happen without them paying at least a substancial amout of the interest and legal fees. IMHO CNE sp will top £2.00 in due couse.
All IMHO.

regarding this tax law dispute. They have already, ages ago written off their investment in India. This was due to many things, the retrospective tax just being one of them. See here:-
https://www.bbc.co.uk/news/world-asia-india-51500812
They won their Arbitration case and, for some reason the Indian Government seem to think (I assume) that agreeing to pay back the compensation award without the legal fees and interest is going to make them stop legal action. I suspect either VOD will continue this or they will sell the debt on. VOD have a market cap of £31 billion so if the Indian Govenment think they are going to accept not getting all the compensation when they have already written off the entire value of their investment in India I think they are in for a huge shock. Must be very nieve indeed!
To avoid still having the International credit problem of an un settled Arbitration Award I assume ALL the Companies taking legal action against India need to agree to write off the interest and legal fees and I can't see this happening at all. There are something like 15 cases I believe.
All IMHO

and at that point presumably we will get another RNS to say Cairn are aware of the law being passed and will comment further in due course. Sounds like the law could be passed next week from what I have read. Then the Board of Cairn will need to decide what to do. They could say nothing I assume knowing the Indian Governments appeal against the International Arbitration ruling is only 3.5 weeks away. I can't see the Indian Government winning that at all, and that is probably why they are rushing through this attempt to avoid paying the legal fees and interest. Paints a very nasty picture to me of their honesty.
All IMHO.

The other Indian Party introduced the retrospective tax that seems to break international law and so why they lost the International Arbitration. Modi and the other party in power now is trying to avoid paying the interest and legal costs that are to the tune of $500 million, even though the International Arbitration Court has ordered them to pay the lot in COMPENSATION. This paints a picture to me of successive Govenments that seem to be dishonest!!! It's pretty obvious to anyone if you look at the facts.
All IMHO.