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ADVERTISEMENT Irrelevant Paper Should Not Stop €77M Award Confirmation
Law360 (January 27, 2021, 5:03 PM EST) A Luxembourg renewable energy company has urged a D.C. federal court to keep its €77 million ($93.49 million) award enforcement suit against Spain, saying the court is obliged to enforce the award despite the mounds of irrelevant paper that Spain has plowed onto the docket.
Watkins Holdings SARL s successful arbitration with the International Centre for Settlement of Investment Disputes was part of a spate of actions against the Kingdom of Spain when it backtracked on renewable energy incentives promised during the late 2000s.
The Luxembourg company argued in its Monday brief that Spain was overcomplicating the case to get it paused.
A pair of Koch Industries companies urged a D.C. federal judge to deny Venezuela's attempt to relitigate a $400 million award confirmation suit and accused the country of wasting judicial resources after it disagreed with a magistrate judge's refusal to toss the suit.
PM: Govt focused on making Bahamas a leading arbitration center Prime Minister Dr. Hubert Minnis. FILE
Prime Minister Dr. Hubert Minnis yesterday committed the government to charting a new course to develop a uniquely Bahamian model that would position this jurisdiction as a leading center for international commercial arbitration in the Americas.
He opened the Ministry of Financial Services, Trade & Industry and Immigration’s Alternative Dispute Resolution (ADR) Forum, which was held virtually yesterday.
Minnis said in charting a new course, the ADR industry has partnered with the government to develop a model that encompasses all forms of alternative dispute resolution, ensuring that it is competitive and successful.
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