Bid To Enforce €101M Spain Award Paused In Australia
Law360 (September 3, 2019, 7:50 PM EDT) -- An Australian judge has paused proceedings initiated by European investors to enforce a €101 million ($110.8 million) arbitral award against Spain following a dispute over renewable energy investment incentives while the country's bid to nix the award remains pending.
Federal Court of Australia judge Angus Morkel Stewart concluded in a decision published this week that he was bound under a provision in his country's International Arbitration Act to pause the dispute, filed by Infrastructure Services Luxembourg SARL, while the annulment bid is ongoing. The award, which includes additional interest and costs, was issued in June 2018 by an International Centre for...
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