As a result, investors in Devas Multimedia—CC/Devas (Mauritius) Ltd., Devas Employees Mauritius Private Ltd., and Telecom Devas Mauritius Ltd.—were awarded $112 million by an international tribunal based in The Hague. This latest case in Australia involves the Delaware-based parent companies of the Devas shareholders: CCDM Holdings LLC, Devas Employees Fund US LLC, and Telecom Devas LLC.
Billion-Dollar Saga of the Devas Multimedia Deal
The Australian court ruling is the latest chapter in the long-running Devas saga, which has also resulted in a separate $1.3 billion arbitral award against Antrix Corp. Ltd., the commercial arm of India’s space agency. That award, issued in 2015 by the International Chamber of Commerce (ICC), has been the subject of enforcement battles in multiple countries, including the United States. Currently, the U.S. Supreme Court is considering whether to enforce the award after the Ninth Circuit Court of Appeals declined to do so in 2023.
Legal Representation and Global Reach
In this latest legal battle, India’s defense was led by Fiona Roughley SC of Banco Chambers and Celia Winnett of Sixth Floor Selborne Wentworth Chambers, with White & Case LLP handling the case. Representing the investors, CCDM Holdings LLC, and the related parties were top legal experts including Bret Walker SC and Justin Hogan-Doran SC.
