Enforcement Of $70M Spain Award Will Remain On Hold

Law360 (November 10, 2020, 8:16 PM EST) -- Spain will not have to put up security as it waits to see whether an annulment committee will nix a $70.4 million arbitral award issued to renewable energy investors, after the committee decided at the same time to keep enforcement of the award on pause.

An International Centre for Settlement of Investment Disputes committee concluded that there was no need to require Spain to secure the award since the country has the fifth-largest economy in the European Union and would have no issue paying if the committee decides to uphold it, according to the previously confidential Oct. 28 decision.

By contrast,...

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