HYDRO ENERGY 1 SARL v Kingdom of Spain - United States District Court for the District of Columbia Case No 1-21-cv-02463 - Petition to Enforce Arbitration Award - 20 September 2021
Petition to Enforce Arbitral Award
Petitioners Hydro Energy 1 S.à.r.l. ("Hydro Energy") and Hydroxana Sweden AB ("Hydroxana") bring this action to enforce an arbitral award (the "Award") issued on August 5, 2020, in ICSID Case No. ARB/15/42 against Respondent, the Kingdom of Spain ("Spain"), following arbitration proceedings conducted in accordance with the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the "ICSID Convention").
Pursuant to Article 54 of the ICSID Convention and 22 U.S.C. § 1650a, arbitral awards issued under the ICSID Convention are not subject to collateral attack and must be enforced and given the same full faith and credit as if the award were a final judgment of a court in the United States.
Accordingly, Petitioners request that this Court (1) enter an order enforcing the Award in the same manner as a final judgment issued by a court of one of the several states, and (2) enter judgment in Petitioners' favor in the amount of 30,875,000, together with interest at the one-year EURIBOR rate plus 1%, compounded annually, from June 1, 2013 until the date of payment.