NovEnergia Says $61M Award Against Spain Can Be OK'd
Law360 (December 3, 2018, 6:38 PM EST) -- Luxembourg-based NovEnergia II-Energy & Environment SCA has rebutted arguments that its €53.3 million ($60.5 million) award against Spain over renewable energy investments cannot be enforced, telling a D.C. federal court that Spain has presented "an array of misleading and inaccurate arguments."
NovEnergia argued Friday that Spain is simply unhappy with the results of the arbitration and hoping to avoid its obligation to pay the award, which NovEnergia won from a Stockholm tribunal in February over changes to Spain's renewable energy regulatory framework that adversely affected the company's investments in eight solar energy plants in the country.
In October, Spain told the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!