Spain
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In a recently published decision, the Supreme Court – for the first time – partially annulled an arbitral award issued in an investment arbitration brought by Clorox España SL against Venezuela.
On June 11, 2020, an ICSID ad hoc committee issued a unanimous decision to annul a €128 million award against Spain in its entirety.
The ICSID has lifted the suspension on the execution of the €290 million award NextEra obtained a year ago.
Pakistan’s chances of having its $6 billion penalty in the Reko Diq case annulled have received a boost with a committee of the International Centre for Settlement of Investment Disputes (ICSID).
An arbitration tribunal ruled against Canadian company Edgewater Exploration in its long-standing legal battle with Spain related to the Corcoesto gold project in the northwestern region of Galicia.
The Tribunal upheld, by majority in a 2 to 1 decision, one jurisdictional objection by Spain and dismissed the claim on that basis.
The claimants initiated ICSID arbitration against Spain, claiming breaches of the Energy Charter Treaty, including the fair and equitable treatment, umbrella and non-impairment clauses.
Spain called for the inclusion of services in the first phase of EU-UK negotiations on the future relationship, adding more complexity to trade talks.
Spain has offered an olive branch in its long-running legal battle with renewables developers. But the fight isn’t over yet.
An ICSID tribunal ordered Spain to pay two Dutch investors EUR 290.6 million in compensation for its breach of the FET standard under ECT
The government will offer subsidies which will allow investors that abandon litigation to maintain their current profitability rate of 7.39% until 2031.
An ICSID tribunal held that Spain violated Fair and Equitable Treatment under the Energy Charter Treaty.
Una empresa estatal húngara se persona en los pleitos en Washington como aliada de los demandantes. Quiere mantener la jurisdicción del Banco Mundial frente al Tribunal de la UE.
The campaign ‘No to trade and investment treaties’ has called on citizens to join the mobilizations planned for next September 27 in the different cities of Spain.
These recent awards indicate that investors now have the upper hand in their ECT claims against EU states.
Spain will have to pay EUR 41 million to German solar investor SolEs Badajoz GmbH for retroactively cutting long-term premiums for renewable energy projects.
Albania, European Union, Georgia, Italy, Slovenia, Spain
The Union of Unions of Agricultural Producers and Ranchers has expressed its concern to the Cabinet of the Commissioner of Commerce of the European Commission about the signing of trade agreements with third countries. It has done so by presenting two reports, one on the active materials banned in the EU which are allowed in third countries, and another on the impact of Mercosur.
The ICSID ruled against Spain in a case brought by NextEra Energy Inc regarding the US utility’s lost investments in two 49.9-MW concentrated solar power plants.
The Spanish Union Fenosa Gas (UFG) denies media reports that any settlement has been reached with Egypt in regard to the $2 billion dispute about the gas supply to the Damietta Liquefied Natural Gas plant.
