Alter egos: Seizing assets of state-owned corporation barred, part one

By Sandra Aigbinode Lange and Melina Zaccaria (October 28, 2022, 12:27 PM EDT) -- The Sept. 20, 2022 Quebec Court of Appeal decision in Air India Ltd. c. CC/Devas (Mauritius) Ltd., 2022 QCCA 1264 clarified the viability of seizing assets owned by a foreign state-owned corporation to satisfy the debts of a foreign government. Overturning the better part of the Superior Court of Quebec’s decision, the Court of Appeal held that shareholders of Devas Multimedia Services (collectively, Devas or the respondents) were not permitted to seize assets in the hands of the International Air Transport Association (IATA) that were owed on behalf of the Republic of India....
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