Bid To Confirm €112M Arbitral Award Against Spain Halted

Law360 (August 29, 2019, 6:57 PM EDT) -- A D.C. federal court paused a bid to confirm a €112 million ($123.9 million) arbitral award against Spain in a dispute over the country yanking economic incentives for renewable energy producers, pending the International Centre for Settlement of Investment Disputes' decision on whether to annul the award.

U.S. District Judge Emmet G. Sullivan said Wednesday that the most efficient and fair move is to pause the case while the ICSID considers Spain's bid to undo the award, since the award that Luxembourg-based Infrastructure Services Luxembourg SARL and Netherlands-based Energia Termosolar BV is trying to enforce could very well be abolished....

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