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ICSID—annulment application by respondent state dismissed (NextEra Energy Global Holdings v Spain)

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Published on: 30 March 2022
Published by a Law360 reporter

Table of contents

  • What did the ad hoc Committee decide?

Article summary

Law360: Spain has lost its application to annul a €291m (US$322.6m) arbitral award issued to Dutch subsidiaries of US-based NextEra Energy Inc after an ad hoc International Centre for Settlement of Investment Disputes (ICSID) annulment committee (the ad hoc Committee) rejected over 20 grounds/reasons for annulment, including that the arbitrators had ignored an alleged underlying fraud.

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United Kingdom

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