Investors Say EU Law Irrelevant In $66M Award Fight

By Khorri Atkinson (August 1, 2022, 5:36 PM EDT) -- Investors who won a $66.3 million arbitral award over revoked economic incentives for renewable energy projects have changed tack in their arguments, telling a D.C. federal court that EU law is irrelevant to their bid to enforce the award there.

Jersey-based RREEF Infrastructure GP Ltd. and Luxembourg-based RREEF Pan-European Infrastructure Two Lux SARL made the argument Friday in a brief responding to Spain's contention that two recent holdings by the European Court of Justice support its argument that the International Centre for Settlement of Investment Disputes lacks jurisdiction to arbitrate internal EU matters.

This is because the parties are within that...

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