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News Article: Deutsche Telekom petitions US court to enforce $1.2 billion arbitration award against Antrix

Deutsche Telekom has petitioned a US court asking it to enforce a $1.2 billion compensation award against Antrix Corp, the commercial arm of India’s space agency, for cancelling a satellite contract with Devas Multimedia, in which the German telecom company is a strategic shareholder.

Deutsche Telekom has sought that India pay its share of $135 million in damages in the case where the US federal court for the western district of Washington had last October upheld the International Chamber of Commerce’s arbitration award of over $1.2 billion ($562 million plus interest) in 2015.

View full article in Economic Times.