Work Area: Sovereign immunity
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
Another of Spain’s ICSID creditors heads to Australia
A Florida-based renewable energy group is the latest of Spain’s ICSID creditors to seek enforcement in the Australian courts.
17 May 2023
LIDW discusses claims mechanisms for Ukraine war damage
A panel at London International Disputes Week considered the mechanisms available to parties seeking compensation for damages suffered as a result of Russia’s invasion of Ukraine.
16 May 2023
Swiss court refuses to attach Spain’s assets
The Swiss Federal Supreme Court has rejected a bid to attach assets belonging to Spain, affirming that an ICSID award holder targeting a foreign state’s assets must demonstrate the matter has a “sufficient domestic connection” to Switzerland.
03 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
China defeats treaty claim over panda reserve
A split tribunal has refused to hear a US$170 million treaty claim brought against China by a Singaporean investor whose phosphate mining activities were curtailed to make way for a panda reserve.
28 February 2023
Malaysian assets frozen again in Luxembourg
Luxembourg assets belonging to Malaysia’s national oil company have been frozen for a second time at the request of Philippine nationals seeking to enforce a US$15 billion award against the Asian state.
16 February 2023
Nigeria’s sovereign immunity defence fails in DC
A US court has rejected Nigeria’s jurisdictional objections to the enforcement of a US$70 million investment treaty award won by a Chinese investor over a joint venture to develop a free trade zone, dismissing the state’s arguments based on sovereign immunity.
30 January 2023
Dutch court enforces Iraqi sea wall award
The Hague Court of Appeal has enforced a US$105 million ICC award against an Iraqi state entity over the construction of the longest sea wall in the world, after rejecting its state immunity defence.
21 November 2022