This is the IIA(s) pursuant to which the claimant initiated the arbitral proceedings. International investment rulemaking is taking place at the bilateral, regional, interregional and multilateral levels. Offering minimal impact on your working day, covering the hottest topics and bringing the industry's experts to you whenever and wherever you choose, LexisNexis ® Webinars offer the ideal solution for your training needs. Information about breaches found is primarily derived from the arbitral decisions. ARB/14/3; Novenergia v Spain, SCC Case No. Research Report: Europe Real Estate Strategic Outlook … v. Kingdom of Spain, case number 1:19-cv-03783, in the U.S. District Court for the District of Columbia. In case an arbitrator has been replaced by another individual (e.g. The Kingdom of Spain; RREEF v. The Kingdom of Spain; Isolux v. The Kingdom of Spain; Eiser Infrastructure v. The Kingdom of Spain] (¶ 429). The disputing party (i.e. Amounts are recorded in the currency used by the claimant/tribunal. In some cases, the approximate amount may be recorded to give a broad indication of the dispute’s magnitude. ARB/13/30) DECISION ON JURISDICTION INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES RREEF Infrastructure (G.P.) As a general rule, a rounded figure (to the nearest hundred thousand) of the amount claimed or awarded is provided. INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES RREEF Infrastructure (G.P.) Claimants. Status of the case: Pending (Annulment) Claimant’s country of origin: United Kingdom, Luxembourg. ARB/13/30, Decision on Jurisdiction, 6 June 2016, paras. v. Kingdom of Spain (ICSID Case No. The Respondent shall pay interests on the sum awarded above from 30 June 2014 to the date of payment of all sums due pursuant to this Award at a rate of 2.07%, compounded monthly. These are individuals who serve as members of the arbitral tribunal adjudicating the dispute (arbitrators). claimant or respondent) that appointed a particular arbitrator is also recorded insofar as information is available. Link to Italaw’s case page Economic sector: Electricity, gas, steam and air conditioning supply . ARB/15/15. Only in RREEF did the host state renege on that promise. IIA breaches alleged and found Oko Pankki Oyj, VTB Bank (Deutschland) AG and Sampo Bank Plc v Estonia, ICSID Case No ARB/04/6, Award, 19 November 2007. • Decided in favour of State: the tribunal dismissed the case for lack of jurisdiction or found that the respondent State has not committed any breach of the applicable IIA. If the claimant provides more than one valuation of damages claimed, the highest of these amounts is recorded. 5 30%]). RREEF v. Spain (ICSID Case No. Year of initiation Limited and RREEF Pan-European Infrastructure Two Lux S.à.r.l. RREEF Infrastructure (G.P.) a-from-charanne-v-spain-to-the-pv-investors-v-spain-trying-to-see-the-wood-for-the-trees/ In the early 2000s, several European states introduced generous incentive programs to attract investors to renewable energy, triggering an investment boom. Date of introduction: 22 Nov 2013. [5] In the recent years, the Commission has been increasing pressure on arbitral tribunals hearing Applicable arbitration rules: ICSID Convention - Arbitration Rules. Respondent: Spain. This dispute arose by the Kingdom If you are a subscriber, please Login to access. v. Kingdom of Spain, ICSID Case No. Decisions, judgments and/or awards rendered in the course of follow-on (post-award) proceedings, as well as any individual opinions appended to them, are recorded. Limited and RREEF Pan-European Infrastructure Two Lux S.à r.l. • Research and policy analysis: monitoring trends, identifying key emerging issues and providing cutting-edge knowledge on IIAs from a sustainable development perspective, v. Kingdom of Spain, ICSID Case No. RREEF v. Spain RREEF Infrastructure (G.P.) Rather, these awards can be divided into three different lines of reasoning, which are examined in the paragraphs that follow. Find details on all publicly known treaty-based investor-State dispute settlement cases. Invoked instruments, purported breaches & administering institution: This is an ongoing arbitration under the ECT. On November 30, 2018, an ICSID tribunal determined that Spain breached the ECT by retroactively applying a new tax regime and failing to ensure RREEF Infrastructure (G.P.) Respondent is the Kingdom of Spain ("Spain") (¶ 7). These may include links to websites of arbitral/administering institutions, governments, international organisations, specialised reporting services (including subscription-based), media and other resources. RREEF Infrastructure (GP) Ltd. et al v. Spain: Petition to Enforce Arbitral Award Petition to Enforce Arbitral Award in the amount of €59.6 million in RREEF Infrastructure (G.P.) Apr 08, 2019 | by Lisa Bohmer. • SCC: Stockholm Chamber of Commerce (Arbitration Institute) ICSID annulment proceedings or domestic judicial review), are marked according to the outcome of the original arbitral proceeding (i.e. Outcome: In favour of Investor. RREEF Infrastructure (G.P.) m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m) Secretary of the Tribunal . ARB/13/30, RREEF Infrastruc- ture (G.P.) While every effort is made to keep the information up to date and complete, the material is provided without any guarantees or warranties as to its accuracy or completeness. Full case name and Antin Energia Termosolar B.V. v. (Limited) et al. Status/Outcome of original proceedings "RREEF Infrastructure (GP) Limited and RREEF Pan-European Infrastructure Two Lux Sarl v Spain, Decision on jurisdiction, ICSID Case no ARB/13/30, IIC 843 (2016), 6th … Eiser Infrastructure Limited and Energía Solar Luxembourg S.à r.l. Typically it is the first word of a corporate claimant’s name, an abbreviation of the corporate claimant’s name, or the last name of a natural-person claimant “v.” the short version of the respondent State’s name. v. Kingdom of Spain, ICSID Case No. This refers to the economic sector to which the investment at issue allegedly belongs. The Navigator is updated on a regular, typically biannual, basis. RREEF Infrastructure (G.P.) 10 COMP/M.5602 RREEF FUND / BP / EVE / REPSOL / BBG . Such arbitrations are also referred to as treaty-based investor-State dispute settlement (ISDS) cases. Proceedings may also be conducted without being administered by any institution. ARB/13/30 Type of case: Investor-State. ARB/13/30) Expand / Collapse All Applicable IIA. • Pending: the arbitration proceedings are pending. Spain is represented by Ana C. Reyes, Jonathan M. Landy and Benjamin W. Graham of Williams & Connolly LLP and by Csaba M. Rusznak of Sovereign Arbitration Advisors LLC. Similarly, procedural orders issued by arbitral tribunals are not included. v. Kingdom of Spain (ICSID Case No. The Judge overseeing this case is Carl J. Nichols. Portigon AG v Kingdom of Spain, ICSID Case No ARB/17/15, Decision on Respondent’s Preliminary Objections pursuant to ICSID Arbitration Rule 41(5), 31 May 2018. Limited and Additional information Limited, RREEF Pan-European Infrastructure Two Lux S.à.r.l. v. Kingdom of Spain, ICSID Case No. No. Composition of tribunal The ISDS Navigator includes information about publicly known IIA-based international investor-State arbitration proceedings. • Discontinued: the arbitration was discontinued for any reason other than due to a (known) settlement. v. Kingdom of Spain, Arbitral rules and administering institution, Decided in favour of neither party (liability found but no damages awarded), ISDS data set in excel format (as of 31 July 2020), https://investmentpolicy.unctad.org/investment-dispute-settlement, Investment Dispute Settlement Navigator >, Decision on Jurisdiction dated 6 June 2016, Decision on Responsibility and on the Principles of Quantum dated 30 November 2018, Partially Dissenting Opinion of Robert Volterra, https://icsid.worldbank.org/en/Pages/cases/casedetail.aspx?CaseNo=ARB/13/30, http://www.energycharter.org/what-we-do/dispute-settlement/investment-dispute-settlement-cases/40-rreef-infrastructure-gp-limited-and-rreef-pan-european-infrastructure-two-lux-sarl-v-spain/, http://globalarbitrationreview.com/news/article/32091/spain-faces-claims-renewables-investors/, http://www.iareporter.com/articles/20131205, http://globalarbitrationreview.com/article/1067174/eu-law-doesn%E2%80%99t-trump-ect-says-pellet-panel, https://www.ecestaticos.com/file/d88ce7a07265dbf8d809b453b848f239/1514204320-186-881-tribunals-arbitratge.pdf, https://www.iareporter.com/articles/a-new-spain-ruling-surfaces-revealing-that-tribunal-majority-sees-a-more-limited-legitimate-expectation-to-reasonable-rate-of-return-for-energy-investors-but-not-to-broader-regulatory-stability/, https://www.iareporter.com/articles/in-rreef-v-spain-dissenting-arbitrator-robert-volterra-finds-ect-breaches-beyond-mere-failure-to-provide-a-reasonable-rate-of-return-and-criticizes-majoritys-support-for-tribunal-appointed/, https://www.transnational-dispute-management.com/legal-and-regulatory-detail.asp?key=17090. The ISDS Navigator contains information about known international arbitration cases initiated by investors against States pursuant to international investment agreements (IIAs). v. Spain, ICSID Case No. In Novernergia v Spain, Spain notably argues that the arbitration agreement should be considered to be void ab initio and so cannot be enforced under the FSIA, which contains a waiver for the enforcement of arbitration awards against sovereigns. Docket for RREEF INFRASTRUCTURE (G.P.) For arbitrations brought under the ICSID Convention Arbitration Rules or ICSID Additional Facilities (AF) Rules, the year in which the claim was registered by ICSID is used. 24, February 2021. Claims concerning expropriation are classified as “direct” or “indirect” according to the characterisation made by the claimant and/or the tribunal. Rather, these awards can be divided into three different lines of reasoning, which are examined in the paragraphs that follow. Strategic Outlooks: Europe / US / Asia Pacific. Disputes in the energy and natural resources sector are at the heart of international arbitration. If there are more than five claimants in the case, the names of all claimants can be replaced by the name of the first three claimants followed by the words “and others”. v. Spain ICSID Case No. The 28 arbitral awards from Charanne v. Spain to The PV Investors v. Spain did not give a uniform answer to this question. Explore the world's most comprehensive free database of investment treaties and model agreements. v. Kingdom of Spain, ICSID Case No. ARB/13/30 at 88-90. 1. Not included are any other (supplementary) arbitral decisions, e.g. 25 below) it is mentioned that RREEF Ltd is a company of the Deutsche Bank group (see Antin v. Spain, final award ¶ 109). It requires policymakers, negotiators, civil society and other stakeholders to be well informed about foreign direct investment, international investment agreements (IIAs) and their impact on sustainable development. Limited and RREEF Pan-European Infrastructure Two Lux S.à r.l. Economic sector and subsector Spain applies for annulment of RREEF award Apr 15, 2020 In final RREEF v. Spain award, arbitrators award close to €60 million in compensation for failure to provide a reasonable rate of return Dec 17, 2019 Limited and RREEF Pan-European Infrastructure Two Lux SARL, ICSID Case No. LIMITED, RREEF PAN-EUROPEAN INFRASTRUCTURE TWO LUX S.A.R.L.. (Attachments: #1 Exhibit 1 - Rozen Declaration, #2 Exhibit 2 … the date in which the request for arbitration containing this amount was submitted or the date of the final award). The UNCTAD Investment Dispute Settlement Navigator – the ISDS Navigator – is maintained by UNCTAD’s IIA Section. The case is RREEF Infrastructure (GP) Ltd. et al. Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers. RREEF Infrastructure (G.P.) This is the institution that provides administrative support for the arbitral proceedings. Limited and RREEF Pan-European Infrastructure Two Lux S.à r.l. When the relevant case documentation is not publicly available, information about breaches alleged may be obtained from other public sources that are deemed reliable. ISDS Navigator "RREEF Infrastructure (GP) Limited and RREEF Pan-European Infrastructure Two Lux Sàrl v Spain, Award, ICSID Case No ARB/13/30, IIC 1637 (2019), despatched 11th December 2019, United Nations [UN]; World Bank; International Centre for Settlement of Investment Disputes [ICSID]" published on by Oxford University Press. ARB/13/30 . Whenever possible, information about amounts claimed and awarded is obtained from primary sources such as the arbitration documents. You are not logged in. official documents relating to the case and information provided by the administering institutions) are the main and preferred source of information. In particular, these include decisions (awards) on jurisdictional issues, liability (merits) and damages, including arbitrators’ individual opinions where these were issued. ARB/13/30 Type of case: Investor-State. When the relevant decision is not publicly available, information about breaches found may be obtained from other public sources that are deemed reliable. (i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o), What tax policymakers need to know about IIAs and their implications for tax measures. 2015/063; in enforcement proceedings in Micula v Romania No. v. Kingdom of Spain (ICSID Case No. This refers to the current status of the original arbitration proceedings. Date of introduction: 22 Nov 2013. In ad hoc arbitrations or those that are subject to non-institutional arbitral rules (e.g. 9REN Holding S.a.r.l v. Kingdom of Spain (ICSID Case No. Arbitral rules In RREEF v. Spain, dissenting arbitrator Robert Volterra finds ECT breaches beyond mere failure to provide a reasonable rate of return, and criticizes majority’s support for tribunal-appointed damages expert. Respondent: Spain. We welcome any additional information or clarifications on specific cases as well as suggestions to improve the Navigator. Charanne v. The Kingdom of Spain; RREEF v. The Kingdom of Spain; Isolux v. The Kingdom of Spain; Eiser Infrastructure v. The Kingdom of Spain] (¶ 429). --Editing by Gemma Horowitz. The present proceedings are still pending. If you continue to navigate this website beyond this page, cookies will be placed on your browser. In the wake of the global financial crisis of 2008, however, the incentive payments put a strain on regulators. Investment Policy Monitor No. v. Spain, ICSID Case No. (function(i,s,o,g,r,a,m){i['GoogleAnalyticsObject']=r;i[r]=i[r]||function(){ ARB/20/30 09 Januar 2021 Read More → 9REN Holdings S.À.R.L. • Develop a wide range of tools to support the formulation of more balanced international investment policies. To enable comparisons between cases, all amounts are also converted to US dollars. The three pillars of activities x. Charanne v. Spain to The PV Investors v. Spain: Trying to See the Wood for the Trees Kluwer Arbitration Blog ... WA v. Czech Republic). Stadtwerke München GmbH, RWE Innogy GmbH, and others v. Kingdom of Spain (ICSID Case No. For proceedings that end in a settlement, the amount of compensation that the State agreed to pay to the claimant under the terms of settlement (if known) is recorded in this section. Limited and RREEF Pan-European Infrastructure Two Lux S.à.r.l. ARB/13/13, Decision on Jurisdiction, 6 June 2016. RREEF INFRASTRUCTURE (G.P.) • MCCI: Moscow Chamber of Commerce and Industry //-->. RREEF Infrastructure G.P. This case was filed in U.S. District Courts, District Of Columbia District. Petition to Enforce Arbitral Award in the amount of €59.6 million in RREEF Infrastructure (G.P.) UNCITRAL Arbitration Rules), the parties may request any arbitral institution to administer their case (e.g. • LCIA: London Court of International Arbitration ARB/13/30 >Claimant : RREEF Infrastructure (G.P.) RREEF Infrastructure (G.P.) Secondary sources, such as specialized reporting services and other sources deemed reliable, are used to supplement primary sources and/or obtain case information otherwise unavailable. Limited and RREEF Pan-European Infrastructure Two Lux S.à r.l. This is how AG Sharpston saw it in her conclusions in Opinion procedure 2/15 of 21 December 2016, para 523 et seq. The details of investment are presented as argued by the claimant, unless otherwise expressly identified by an arbitral tribunal in its decisions or awards. ICSID annulment proceeding), the status of the case is marked according to the outcome of the original arbitral proceeding (i.e. ... WA v. Czech Republic). Status of the case: Pending (Annulment) Claimant’s country of origin: United Kingdom, Luxembourg. The short case name is ascribed by UNCTAD. v Kingdom of Spain, ICSID Case No. An objective evaluation of a country’s legal, regulatory and institutional framework to attract direct investments.
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