Spain Waived Immunity In $144M Award Fight, Court Hears

Law360 (June 6, 2019, 8:38 PM EDT) -- London-based asset manager Eiser Infrastructure Ltd. has pointed to a recent D.C. Circuit decision as it fights a motion to dismiss its suit to enforce a €128 million ($144 million) arbitral award against Spain, saying the decision shows the country has waived its sovereign immunity.

The award was won by Eiser and Energia Solar Luxembourg SARL — which is owned by the British company — after an International Centre for Settlement of Investment Disputes tribunal determined Spain had wrongly upended a series of subsidies aimed at encouraging investment in the renewable energy sector.

Spain has argued the case is barred under...

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