Spain Must Pay €42M Award, Energy Investor Says

Law360 (February 18, 2020, 9:58 PM EST) -- A Luxembourg renewable energy investor has urged a D.C. federal court to enforce a €41.8 million ($46.56 million) arbitral award against Spain over revoked economic incentives, saying it's "undisputed" that Spain consented to arbitration by signing an underlying treaty.

Last month, Spain argued the award is invalid under European Union law, but 9REN Holding SARL shot back Friday, said that Spain is trying to muddy the waters and that it has failed to carry its burden to show the award can't be enforced.

"Spain seeks to engage in a 'battle of the experts' by manufacturing issues concerning EU and international law that...

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