Region: Spain

Australia’s highest court to hear Spain’s appeal on sovereign immunity

The High Court of Australia has granted Spain special leave to appeal the recognition of a €101 million ICSID award obtained by a Luxembourgish investor affected by its renewable energy reforms.

31 March 2022

Spain fails to annul largest renewables award

An ICSID committee has upheld the largest award yet issued against Spain over its renewable energy reforms, rejecting arguments that the investor had “unclean hands” or that the tribunal should not have agreed to hear an intra-EU dispute.

28 March 2022

Spain fails to annul German solar investor’s award

A divided ICSID committee has upheld a €41 million award won by a German solar power investor against Spain, as the state applies to annul another award in favour of a Japanese investor.

17 March 2022

ICSID panel finds Spain liable despite Komstroy

Another ICSID tribunal has held Spain liable over its renewable energy reforms while dismissing the European Court of Justice’s recent observations on the Energy Charter Treaty in Komstroy as not binding or persuasive.

21 February 2022

Spain mourns two leading figures

Spain's arbitration community has been rocked by the sudden deaths of two leading figures, Carlos de los Santos and Miguel Ángel Fernández-Ballesteros, in the space of a few weeks.

09 February 2022

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

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