Affected companies are Renewable Energy Default filed in the district court Columbia (USA) First formal request for information and documents after judgment against the Kingdom of Spain. … Enforce a firm international arbitration award that condemns the Iberian state to pay appropriate compensation to companies affected by retroactive withdrawal. Premium offered for investment In renewable energy.
The document, registered by the firm King & Spalding LLP, requires Spain to provide detailed information about the company within up to 30 days. Property, financial accounts, contracts and assets located in the United Statesit also includes data relating to various public or private entities linked to the state through shareholdings or other types of links.
The objective is to identify assets that may be enforced to satisfy the obligations resulting from the arbitration award. This is a parallel task developed by the companies themselves through consulting services specializing in tracking government assets. However, common law in countries such as the United States also allows enforcement of this type of mandatory information requirement in the following cases: Detect non-payment and non-compliance situations of the text.
The submitted requests include Spain’s obligation to provide documents regarding bank accounts, assets and property, debts and loans, international contracts, financial transfers, etc. Additionally, information is requested regarding various national institutions, including: SEPI, Renfe, Paradors, Instituto Cervantes, Enere, Ineco.In particular, whether they act effectively as “alter egos” of the state and therefore their property may be seized, Within the framework of the registration procedure and full judicial recognition of existing debts by the US courts.
This step constitutes a normal stage in the international enforcement process of an award after a favorable judgment. Default scenario on the debtor’s side. Therefore, this law is developed in accordance with the Federal Rules of Civil Procedure applicable in the United States.
North American courts have already handed down seven judgments against our country in recent weeks, bringing the total to 688.4 million. Cube (40.2 million euros), Watkins (79.5 million euros), Infrastructur in latest judgment worth 44 million related to 9Ren case We must add corresponding judgments for other creditors such as Services/Antin (125.1 million), RREEF (74 million), InfraRed (35 million), or NextEra (290.6 million). This series of adverse judicial decisions amounts to 688.4 million for the Kingdom of Spain.
This new course of action, based on formal tracking and identification of Spanish products and assets in the continental United States, will allow affected companies to: Proceed to the final step to activate your payment Part of the amount awarded in favor by the International Court of Arbitration in the context of litigation related to retroactive reduction of renewable energy insurance premiums.
The total liability arising from this matter amounts to EUR 2.18 billion, including EUR 1,754.7 million in unpaid compensation and EUR 416.4 million related to late payment interest, expense orders and other additional costs.
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