A boomerang blow to the enforcement of arbitral awards against Spain?. The High Court of Australia upholds ‘recognition’ and ‘enforcement’ of a multimillion ICSID award in favour of renewable energy investor Infrastructure Services Luxembourg S.À.R.L.
Arbitration analysis: In a judgment dated 12 April 2023, the Australian High Court has dismissed the appeal lodged by the Kingdom of Spain (‘Spain’) and upheld the recognition and enforcement of the €101m ICSID award favourable to renewable energy investor Infrastructure Services Luxembourg S.À.R.L. (‘Respondent’).
The court considered that Spain had effectively waived its regime of sovereign immunity from the Australian jurisdiction under Part II of the Foreign States Immunities Act 1985 (‘FSIA’).
A boomerang blow to the enforcement of arbitral awards against Spain?. Published on 26 April 2023 by Lexis Nexis, and written by Josep Gálvez (subscription is required).
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