Mathias Kruck and others v Kingdom of Spain - ICSID Case No. ARB/15/23 - Award - 6 October 2023
Country
Year
2023
Summary
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V. DECISION
82. For these reasons, the Tribunal hereby decides:
(i) To reaffirm its Decision on Jurisdiction and Admissibility dated 19 April 2021 and its Decision on Jurisdiction, Liability and Principles of Quantum dated 14 September 2022, together with the three Decisions on the Requests for Reconsideration, respectively dated 6 December 2021, 25 July 2022 and 22 February 2023, and to incorporate all of those Decisions in this Award;
(ii) by a majority, that the Respondent has violated Part III of the ECT with respect to the Claimants' investments, and specifically the Respondent violated the rights of the DSG Claimants under Article 10 of the ECT to fair and equitable treatment by establishing the New Regulatory Regime;
(iii) That amount due to the group of DSG Claimants by way of reparation is € 15,019,540, and that interest on that sum is payable as from 21 June 2014 at a rate of 1.16%, in accordance with paragraphs 54 and 55 above; and
(iv) That the Respondent should pay its own costs and contribution to the costs of the Tribunal, and should pay to the Claimants three-fifths of the Claimants' costs (including the Claimants' contribution to the costs of the Tribunal), i.e., € 2,885,356.85 plus US$ 340,151.73, with interest on those sums payable at a rate of 1.16% as from the date of this Award.
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