Topic: Komstroy

Oil trader wins ECT award against Poland

A Cyprus-registered oil trader has won US$47.6 million in an Energy Charter Treaty claim over Poland’s refusal to comply with decisions by its own courts ordering the state to pay interest on a repaid fine.

07 March 2023

US judge grants anti-suit injunctions against Spain

A US judge hearing two actions by solar investors to enforce ICSID awards worth a combined €333 million against Spain has issued injunctions to prevent the state from trying to halt the proceedings through litigation in the Netherlands and Luxembourg.

16 February 2023

Hungary’s MOL seeks to enforce against Croatia

A Hungarian oil and gas group that won a US$237 million ICSID award against Croatia after defeating the state’s bribery defence has moved to enforce it in a US court, putting the award in the public domain.

26 January 2023

Swedish courts annul intra-EU treaty awards

The Swedish courts have set aside intra-EU investment treaty awards made against Poland and Spain based on the European Court of Justice’s rulings in Achmea and Komstroy.

14 December 2022

Spain fails to annul intra-EU award in solar case

An ICSID committee has upheld an award requiring Spain to pay €42 million to a Luxembourgish subsidiary of US private equity firm First Reserve, rejecting arguments that the tribunal should have declined jurisdiction over the intra-EU dispute.

02 December 2022

Spain liable in another solar case

An ICSID tribunal has ruled Spain must compensate a group of German investors for reforms to its renewable energy subsidy regime, while other disputes over the same measures have seen failed reconsideration requests and an unsuccessful enforcement bid in Colombia.

16 September 2022

German court declares ICSID claims inadmissible

UPDATED: A German court has declared that two ICSID claims brought by German energy companies against the Netherlands are inadmissible as they are incompatible with EU law.

07 September 2022

Poland moves to exit ECT

The Polish government has prepared draft legislation to withdraw the country from the Energy Charter Treaty, citing the need to comply with EU law and a lack of progress in efforts to modernise the treaty.

02 September 2022

UK oil company wins ECT award against Italy

London-listed oil and gas company Rockhopper Exploration says it has won €190 million plus interest in an Energy Charter Treaty claim over Italy’s refusal to grant a concession for an oilfield on the country’s Adriatic coast.

24 August 2022

Uniper to withdraw ECT claim as part of German bailout

Uniper says it has agreed to withdraw a controversial Energy Charter Treaty claim against the Netherlands over climate change legislation as a condition of a €15 billion bailout from the German government, as the company struggles to cope with the steep drop in supplies of Russian gas.

25 July 2022

Unlock unlimited access to all Global Arbitration Review content