Swedish Court Won't Refer Questions On €39M Spain Award

Law360 (November 5, 2020, 5:07 PM EST) -- A Swedish appeals court weighing whether to nix a €39 million ($46.1 million) arbitral award issued to renewable energy investors has denied Spain's request to obtain a preliminary ruling from Europe's top court on the proper interpretation of an arbitration clause in an underlying treaty.

The Svea Court of Appeal ruled on Oct. 26 that it had no reason to request the ruling from the European Court of Justice at this point in the case, in which Spain is challenging the award issued to Foresight Luxembourg Solar 1 SÀRL and several other EU entities following a dispute over revoked incentives for renewable...

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