Cairn ups ante in US court in fight against India
- ByAyushi Ray | September 6, 2021
Cairn ups ante in US court in fight against India. The Scottish energy giant believes New Delhi may sell the airline by the time a decision is reached. In May, Cairn filed a case against Air India as the company looked to establish that the airline is “the alter ego of the Republic of India and therefore jointly and severally liable for the debts and obligations of India itself”. This is a legal process under which a favourable order allows Cairn Energy to seize the airline’s planes and other assets.
“[P]rejudgment security is equitable because India has stated that it will indemnify Air India for any losses in this litigation. This shows in turn that Cairn is likely to prevail on the merits, as India is yet again disregarding corporate formalities and that any judgment entered against Air India would be ultimately borne by India—the original debtor in this case,” wrote Dennis H. Hranitzky, the counsel for Cairn Energy, in a letter dated September 2. Mint reviewed a copy of the letter filed in the court.
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