A boomerang blow to the enforcement of arbitral awards against Spain?

𝐈𝐍𝐕𝐄𝐒𝐓𝐌𝐄𝐍𝐓 𝐀𝐑𝐁𝐈𝐓𝐑𝐀𝐓𝐈𝐎𝐍 𝐀𝐆𝐀𝐈𝐍𝐒𝐓 𝐒𝐏𝐀𝐈𝐍 – The recent decision by the High Court of Australia in 𝑲𝒊𝒏𝒈𝒅𝒐𝒎 𝒐𝒇 𝑺𝒑𝒂𝒊𝒏 𝒗 𝑰𝒏𝒇𝒓𝒂𝒔𝒕𝒓𝒖𝒄𝒕𝒖𝒓𝒆 𝑺𝒆𝒓𝒗𝒊𝒄𝒆𝒔 𝑳𝒖𝒙𝒆𝒎𝒃𝒐𝒖𝒓𝒈 𝑺.𝒂̀.𝒓.𝒍. & 𝑨𝒏𝒐𝒓 [2023] 𝑯𝑪𝑨 11 may not be as favourable as it seems for former renewable energy investors seeking to enforce their ICSID award against Spain.

Indeed, upon closer examination, it appears to be a setback for their efforts. I have written a comprehensive article examining the claim by Infrastructure Services Luxembourg S.À.R.L. against the Kingdom of Spain, delving into this matter’s puzzle.

It is interesting to note that the legal discourse surrounding this case focused on the differentiation between «𝒓𝒆𝒄𝒐𝒈𝒏𝒊𝒕𝒊𝒐𝒏,» «𝒆𝒏𝒇𝒐𝒓𝒄𝒆𝒎𝒆𝒏𝒕», and, most significantly, «𝒆𝒙𝒆𝒄𝒖𝒕𝒊𝒐𝒏.» Furthermore, the decision made against Spain appears to be the opposite.

This and much more are in my new analysis recently published by LexisNexis UK (subscription is required).

Again, many thanks to LexisNexis UK, Gustavo Moser, Rebecca Lamb, and Rukiya M for their outstanding support!

Please stay tuned here for the latest developments in international investment law.

#investmentlaw #internationalarbitration #SpainArbitration #australia


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