Spain has been hit with a lawsuit seeking to enforce a $128 million arbitration award in a dispute over the country’s alternative energy investment policies, the fifth such lawsuit brought against the country in Australia.
A law firm with a global footprint is facing a possible breach of trust lawsuit in relation to $27 million it held as security for costs in an international arbitration.
The Kingdom of Spain is facing yet another Federal Court enforcement proceeding over its ill-fated renewable energy initiative, this time by a Luxembourg-based renewable investment firm seeking payment of a $75.1 million award granted by an international arbitration tribunal.
The Kingdom of Spain is keeping up its fight against the enforcement of two arbitration awards putting it on the hook for paying two investment companies $375 million.
The Kingdom of Spain must pay $375 million after it failed in its bid to claim sovereign immunity from the enforcement of two foreign arbitration awards related to renewable energy investments.
Two Deutsche Bank subsidiaries have filed Federal Court proceedings against Spain seeking enforcement of a €59.6 million ($96.3 million) award for losses incurred as a result of changes in the country’s renewable regulatory framework.
An appeals court has thrown out the Democratic Republic of East Timor’s second bid to stay a case brought against it by Lighthouse Corporation over $328 million in alleged losses stemming from a failed fuel supply contract.
The operator of a Vietnamese mine has dropped its Federal Court proceedings against WorleyParsons subsidiary Jacobs E&C over the enforcement of a $132 million arbitration award.
The Federal Court has stayed a lawsuit seeking to enforce a $183 million international arbitration award against the Kingdom of Spain over a solar farm investment while the country seeks to have the award annulled.
South Korea’s Samsung C&T Corporation has launched two bids in Singapore to set aside a US$94 million (AU$138 million) award relating to its dispute with Spanish energy company Duro Felguera over the Pilbara-based Roy Hill iron ore mine.