Topic: Komstroy

German courts offer protection to states facing intra-EU ICSID claims

DECISIONS NOW PUBLISHED: The German Federal Court of Justice has held that EU member states can use the German courts to seek legal protection against intra-EU ICSID claims filed under the Energy Charter Treaty.

27 July 2023

Annulment of intra-EU award upheld in Sweden

The Swedish Supreme Court has refused to hear a Luxembourg fund’s appeal against the annulment of a €56 million Energy Charter Treaty award against Spain.

17 July 2023

Spain fails to halt enforcement of intra-EU award in London

A UK court has ruled for the first time that Spain cannot avoid enforcement of an ICSID award by invoking EU law prohibitions on intra-EU investment arbitration.

25 May 2023

Australia’s top court rejects Spain’s immunity defence

Australia’s highest court has affirmed that Spain cannot invoke sovereign immunity to avoid the recognition and enforcement of a €101 million ICSID award – and that the European Court of Justice’s prohibition against intra-EU investment arbitration is irrelevant to this question.

12 April 2023

Award holder freezes Spanish assets in London

Spain’s quixotic battle with renewable energy creditors has taken a new turn as an award holder freezes state assets including the London premises of the country’s language and cultural centre, the Cervantes Institute.

06 April 2023

US court declines to enforce ECT award against Spain

In a first, a US court has refused to enforce an Energy Charter Treaty award against Spain, finding that under EU law the state lacked the legal capacity to extend an offer to arbitrate an intra-EU investment dispute.

30 March 2023

Spain fails to annul hydropower award

An ICSID committee has upheld a €31 million Energy Charter Treaty award won by European hydropower investors – finding that the “correctness” of the tribunal’s application of EU law was not within the scope of its review.

23 March 2023

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

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