ICSID Committee Dismisses Spain’s Bid To Annul $60M Intra-EU Arbitral Award

(July 22, 2022, 4:09 PM EDT) -- WASHINGTON, D.C. — An International Centre for Settlement of Investment Disputes (ICSID) ad hoc committee on June 10 dismissed the Kingdom of Spain’s application to annul an award worth more than $60 million in favor of Luxembourg and Jersey investors for harming their investments in Spain’s renewable energy industry, rejecting Spain’s intra-EU argument and ordering it to pay the investors more than 791,000 British pounds in attorney fees and $451,000 in arbitration costs....

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