Case Report (free download)
Case Report by Maria Gomez, Editor Ignacio Torterola
Plaintiffs brought an action to enforce an arbitral award issued by the International Centre for Settlement of Investment Disputes ("ICSID") against the Kingdom of Spain ("Spain"). Spain opposed the enforcement based on several grounds or, alternatively, sought the suspension of the proceedings until the ICSID ad hocAnnulment Committee ("Annulment Committee"), presently examining the legality of the award, has decided its application for annulment. On behalf of the European Union ("EU"), and in support of Spain, the European Commission ("EC") filed a brief as amicus curiae arguing that EU law excluded ICSID jurisdiction over the dispute, thus invalidating the ICSID award. In turn, Plaintiffs moved for summary arguing that their ICSID award is not controversial and that no additional stay is needed. The Court joined the consensus of other courts within the District of Columbia in considering comparable allegations before examining the merits of the conflict between the parties, and ultimately decided to stay the proceedings until a final resolution is rendered by the ICSID Annulment Committee.
conflicts of law between EU law and multiple treaty regimes, enforcement of ICSID award, annulment of award, staying of proceedings in federal district court.
Case report provided by International Arbitration Case Law (IACL)
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