In a pivotal ruling on August 16, 2024, the U.S. Court of Appeals for the D.C. Circuit (“Appellate Court”) addressed whether intra-EU arbitration awards issued under the Energy Charter Treaty (“ECT”) are enforceable in U.S. federal courts. With Spain facing over $390 million in awards, the Appellate Court confirmed that U.S. courts have jurisdiction to…

The second front can open in the United States (“U.S.”) for over 50 investment arbitration claims against the Kingdom of Spain (“Spain”) that are worth hundreds of millions of U.S. dollars combined. The ongoing disputes spotlighted the continuing controversy between the decisions of the European Union’s (“EU”) highest court and international investment tribunals. The cases…