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Solar Investors Say Spain Can t Block €33.7M Award
Law360 (January 20, 2021, 5:55 PM EST) A group of renewable energy investors and private equity funds from France and Luxembourg are urging a D.C. federal court not to block their effort to enforce a €33.7 million ($37.8 million) award against Spain, accusing the country of trying to pull out of a binding arbitral agreement.
Cube Infrastructure Fund SICAV of Luxembourg, Demeter Partners SA of Paris and others sought Monday to poke holes in an argument Spain has made challenging numerous arbitral awards stemming from its revocation of renewable energy incentives.
In their Monday filing, the investors insisted the federal court has jurisdiction to hear their case under.
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Spain Says €34M Award Over Energy Subsidies Unenforceable
Law360 (December 21, 2020, 6:28 PM EST) Spain urged a D.C. federal court on Friday to toss litigation filed by a group of European funds to enforce a €33.7 million ($37.8 million) award against it, saying the award is unenforceable in the European Union under well-settled precedent.
The country is seeking to annul the International Centre for the Settlement of Investment Disputes award issued to Cube Infrastructure Fund SICAV of Luxembourg, Demeter Partners SA of Paris and others in February 2019 over Spain s revoked renewable energy incentives.
As it has done in numerous U.S. enforcement actions, Spain on Friday argued the D.C. court lacks jurisdiction to hear the.