Investors Tell Court Spain Can’t Rely On EU Law To Oppose 31.7M Euro Award

Mealey's (January 21, 2021, 12:55 PM EST) -- WASHINGTON, D.C. — A group of Luxemburg- and France-based equity funds on Jan. 18 moved for judgment on the pleadings in their action to confirm an arbitral award against the Kingdom of Spain worth approximately 51.5 million euros for breaches of the Energy Charter Treaty (ECT) and filed a brief opposing the kingdom’s motion to stay or dismiss the action, arguing that the kingdom’s challenges to the award under European Union law are a “collateral attack” on the arbitration....