The Court of Appeal in London. Credit: Krishnan Nair Spain Loses Appeal as London Court Rejects Claim of Immunity in €101 Million Arbitral Award Enforcement
The ruling could have implications for other European Union member states facing investor disputes in U.K. courts.
October 23, 2024 at 03:51 PM
4 minute read
The Court of Appeal in London has rejected an appeal by Spain claiming state immunity to resist the enforcement of a €101 million arbitral award registered in England.
The case involves two investors, Infrastructure Services Luxembourg and Energia Termosolar, that took Spain to arbitration more than a decade ago over the country's withdrawal of economic programs favoring clean energy investments.
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