Topic: Komstroy

Spain’s quixotic battle with renewable energy creditors has taken a new turn as an award holder freezes state assets including the London premises of the country’s language and cultural centre, the Cervantes Institute.

06 April 2023

In a first, a US court has refused to enforce an Energy Charter Treaty award against Spain, finding that under EU law the state lacked the legal capacity to extend an offer to arbitrate an intra-EU investment dispute.

30 March 2023

An ICSID committee has upheld a €31 million Energy Charter Treaty award won by European hydropower investors – finding that the “correctness” of the tribunal’s application of EU law was not within the scope of its review.

23 March 2023

A Cyprus-registered oil trader has won US$47.6 million in an Energy Charter Treaty claim over Poland’s refusal to comply with decisions by its own courts ordering the state to pay interest on a repaid fine.

07 March 2023

A US judge hearing two actions by solar investors to enforce ICSID awards worth a combined €333 million against Spain has issued injunctions to prevent the state from trying to halt the proceedings through litigation in the Netherlands and Luxembourg.

16 February 2023

A Hungarian oil and gas group that won a US$237 million ICSID award against Croatia after defeating the state’s bribery defence has moved to enforce it in a US court, putting the award in the public domain.

26 January 2023

The Swedish courts have set aside intra-EU investment treaty awards made against Poland and Spain based on the European Court of Justice’s rulings in Achmea and Komstroy.

14 December 2022

An ICSID committee has upheld an award requiring Spain to pay €42 million to a Luxembourgish subsidiary of US private equity firm First Reserve, rejecting arguments that the tribunal should have declined jurisdiction over the intra-EU dispute.  

02 December 2022

An ICSID tribunal has ruled Spain must compensate a group of German investors for reforms to its renewable energy subsidy regime, while other disputes over the same measures have seen failed reconsideration requests and an unsuccessful enforcement bid in Colombia.

16 September 2022

UPDATED: A German court has declared that two ICSID claims brought by German energy companies against the Netherlands are inadmissible as they are incompatible with EU law.

07 September 2022