Region: Spain

Oligarch fails to revive treaty claim against Russia

Former banker Sergei Pugachev has failed to persuade a Spanish court to revive his US$14.5 billion investment treaty claim against Russia.

10 January 2022

Spain faces new enforcement actions

Investors have launched two new US court actions against Spain to enforce Energy Charter Treaty awards compensating them for reforms to the country’s renewable energy regime.

17 December 2021

Spain fails to reopen intra-EU objection after Komstroy

An ICSID tribunal has refused to reconsider its jurisdiction to hear an Energy Charter Treaty case brought by four German banks against Spain – one of the first arbitral decisions to address the effect of the European Court of Justice’s recent ruling in Komstroy.

06 December 2021

Japanese investor wins damages over Spanish solar reforms

An ICSID tribunal has ordered Spain to pay a Japanese investor over €23.5 million plus interest and costs after finding that changes to the state’s renewable energy regime frustrated its legitimate expectations.

25 November 2021

Spain knocks out Abengoa’s billion-euro claim

An SCC tribunal has thrown out a €1.2 billion claim against Spain brought by a subsidiary of insolvent Spanish infrastructure group Abengoa over the state’s renewable energy reforms.

17 November 2021

Spain and France escape lawsuits in oil spill saga

The Court of Appeal in London has blocked an insurance club from pursuing litigation against Spain and France over their failure to comply with awards relating to an oil spill in the Atlantic 19 years ago – but related arbitrations brought by the club will proceed.

09 November 2021

Spain marks 50th renewables claim as new reforms roil investors

Spain has been hit with its 50th treaty claim from renewable energy investors and a fresh US enforcement action, as surprise reforms to the sector announced last week raise the prospect of yet more claims.

21 September 2021

Spain partly liable over solar reforms

Another ICSID tribunal has found Spain partly liable under the Energy Charter Treaty for reforms to its renewable energy regime, ruling that investors were entitled to a reasonable rate of return but had no unalterable right to a fixed tariff.

15 September 2021

Spain ordered to pay German solar investor

An ICSID tribunal has ordered Spain to pay nearly €28 million to a German investor, nearly a year after finding that reforms to the country’s renewable energy subsidy regime frustrated the claimant’s legitimate expectations.

18 August 2021

Spain faces yet another renewables claim

Two Irish funds have become the latest of dozens of investors to file an Energy Charter Treaty claim against Spain over reforms to its subsidy regime for renewable energy.

04 August 2021

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