greece referendum

The Greeks Have Spoken: What Happens Next?

By Kavaljit Singh | Commentary | July 7, 2015

The Greek citizens have delivered a resounding ‘No’ to bailout conditions demanded by creditors in a referendum held on 5th July. The referendum was announced by Greece’s Prime Minister, Alexis Tsipras, on 27th June after bailout talks with the creditors failed. The referendum asked voters to decide “whether to accept the outline of the…

Greek debt criis

The Never Ending Saga of Greece’s Debt Crisis

By Kavaljit Singh | Commentary | July 2, 2015

The Greek debt crisis saga continues with no resolution in sight. As expected, the European leaders rejected a last-minute proposal by Alexis Tsipras, Prime Minister of Greece, requesting an extension of bailout program that expired on 30th June and seeking a new €29.1 billion bailout package that could have covered country’s debt obligations over…

Investment III

Decoding India’s New Model BIT (III)

By Kavaljit Singh | Commentary | June 16, 2015

The concept of expropriation has always been, and continues to be, a controversial issue in international investments. In particular, most problematic is the interpretation of the concept of “indirect expropriation” which has been widely used by international investors to challenge a wider range of regulatory measures on health, environment and public safety that infringe…

Investment

Decoding India’s New Model BIT (II)

By Kavaljit Singh | Commentary | June 8, 2015

The new model BIT has completely excluded Most Favoured Nation (MFN) obligation and has considerably narrowed down the scope and content of national treatment (NT) and FET clauses. Besides, vague provisions have been clearly defined and additional qualifications have been incorporated to avoid their expansive interpretations by arbitral tribunals. In the recent past, arbitral…

Investment II

Decoding India’s New Model BIT (I)

By Kavaljit Singh | Commentary | May 11, 2015

In 2013, India launched an official review of its bilateral investment treaties in the wake of public outcry over arbitration notices issued by several foreign investors. Since India negotiates BITs on the basis of a model, the purpose of the review was to revise the 1993 model treaty text in tune with the recent…