Spain Tells DC Judge European High Court Decision Reigns

By Diamond Naga Siu (October 7, 2021, 7:15 PM EDT) -- Spain urged a D.C. federal judge to defer to a ruling from Europe's highest court that decided Energy Charter Treaty arbitration agreements are invalid, arguing that it's not obligated to follow arbitrators who issued a €101 million ($119.2 million) award to investors.

Infrastructure Services Luxembourg SARL and Energia Termosolar BV are two of many investors that won arbitral awards against the Kingdom of Spain following its decision to backtrack on renewable energy incentives promised during the late 2000s.

Spain cited in its Tuesday response the recent European Court of Justice decision in Republic of Moldova v. Komstroy LLC, which found in...

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