Pause May Be Lifted On Enforcing UK Co.'s €28M Spain Award

Law360 (November 4, 2020, 7:26 PM EST) -- A British renewable energy investor won't be able to proceed with enforcing a €28.2 million ($33 million) arbitral award against Spain, which it won following a dispute over renewable energy subsidies, until it agrees to return amounts collected if the award is eventually annulled.

An International Centre for Settlement of Investment Disputes committee weighing Spain's bid to nix the award decided on Oct. 27 to keep a provisional stay of enforcement in effect until the U.K. company InfraRed Environmental Infrastructure GP Ltd., which won the award in August 2019, agrees to accept certain conditions, such as promising not to use or...

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