Palabras clave
European Union
International energy agreements
Breach of treaty
Enforcement of foreign arbitral awards
Rule of law
Cómo citar
Resumen
The purpose of this paper is to examine the structural crisis that currently faces the international investment arbitration regime within the European Union, with particular attention to the growing incompatibility between the Energy Charter Treaty (ECT) and the principles of EU law. Building on the jurisprudence of the Court of Justice of the European Union (CJEU) in Achmea and Komstroy, Member States have relied on EU law to resist compliance with arbitral awards, thereby undermining investor confidence and generating unprecedented legal uncertainty. Against this backdrop, this document analyses the case of investment awards in which Spain was condemned under the ECT and its investors recourse to external jurisdictions, notably the United Kingdom, the United States, and Australia, as alternative forums to seek enforceability against this nation. Through a comparative examination of landmark cases, the study identifies the legal arguments that have enabled enforcement abroad, the limits investors encounter in practice, and the broader consequences for the coherence of EU public order and the legitimacy of the international investment law system.
Citas
Allin, C., & Olins, D. (2024). A moment of clarity? State immunity and the enforcement of ICSID Convention awards in England and Wales. DLA Piper. Available at: https://www.dlapiper.com/en-es/insights/publications/arbitration-matters/2024/a-moment-of-clarity-state-immunity-and-the-enforcement-of-icsid-convention-awards
Arbitration Institute of the Stockholm Chamber of Commerce (SCC) (2013). Isolux Infrastructure Netherlands B.V. v. Kingdom of Spain (SCC Case No. V2013/153).
Bajaj y Campbell (2023). High Court of Australia rejects Spain’s sovereign immunity claim and clarifies two-step process for arbitral awards under the ICSID Convention. Available at: https://www.dlapiper.com/en/insights/publications/2023/04/high-court-of-australia-rejects-spains-sovereign-immunity-claim
Bajaj, G., & Campbell, A. (2023). High Court of Australia rejects Spain’s sovereign immunity claim and clarifies two‑step process for arbitral awards under the ICSID Convention. DLA Piper. Available at: https://www.dlapiper.com/en/insights/publications/2023/04/high-court-of-australia-rejects-spains-sovereign-immunity-claim
Battisson, A., & Mills, T. (2024). Enforcement and recovery: Theory. Global Arbitration Review. Available at: https://globalarbitrationreview.com/guide/the-guide-investment-treaty-protection-and-enforcement/second-edition/article/enforcement-and-recovery-theory
Council of the European Union. (2024). Council Decision (EU) 2024/1638 on the withdrawal of the Union from the Energy Charter Treaty. Official Journal of the European Union. Available at: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32024D1638
Court of Appeal of England and Wales. (2024). Infrastructure Services Luxembourg S.à.r.l. and Energia Termosolar B.V. v. Kingdom of Spain (Case No. CA-2023-001556, [2024] EWCA Civ 1324). London: Court of Appeal. Available at: https://www.bailii.org/ew/cases/EWCA/Civ/2024/1324.html
Court of Justice of the European Union. (2018, 6 March). Slovak Republic v. Achmea B.V. (Case C-284/16, ECLI:EU:C:2018:158). Luxembourg: CJEU. Available at: https://curia.europa.eu/juris/liste.jsf?num=C-284/16
Court of Justice of the European Union. (2021). Republic of Moldova v. Komstroy LLC (Case C-741/19). Available at: https://curia.europa.eu/juris/document/document.jsf?docid=246242&doclang=EN
Dautaj, Y. (2022). Eiser Infrastructure Ltd v Kingdom of Spain: Australia’s first contested ICSID enforcement. SMU TIL Journal, 55. Available at: https://scholar.smu.edu/til/vol55/iss1/4/
De Miguel, R. (2023). El Reino Unido se opuso en su día al arbitraje que su juez ha usado para embargar bienes de España. El País. Available at: https://elpais.com/economia/2023-04-05/el-reino-unido-se-opuso-en-su-dia-al-arbitraje-que-su-juez-ha-usado-para-embargar-bienes-de-espana.html
Debevoise & Plimpton. (2023). Courts grapple with state immunity as Spain resists enforcement of arbitral awards. Debevoise & Plimpton LLP. Available at: https://www.debevoise.com//media/files/insights/publications/2023/09/07_courts-grapple-with-state-immunity
DLA Piper. (2023). High Court of Australia rejects Spain’s sovereign immunity claim and clarifies two-step process for arbitral awards under the ICSID Convention. Available at: https://www.dlapiper.com/en/insights/publications/2023/04/high-court-of-australia-rejects-spains-sovereign-immunity-claim
Dougherty, C., & Mackenzie, A. (2022). A practical guide to anti-suit injunctions. 2TG Commercial Dispute Resolution Group. Available at: https://www.2tg.co.uk/wp-content/uploads/2022/05/2TG-Practical-Guide-to-Anti-Suit-Injunctions-2022.pdf
Energy Charter Secretariat. (1994). Energy Charter Treaty, Lisbon, 17 December 1994, in force 16 April 1998. Available at: https://www.energycharter.org/process/energy-charter-treaty-1994/energy-charter-treaty/
Federal Court of Australia. (2020). Eiser Infrastructure Ltd v Kingdom of Spain ([2020] FCA 157). Judgment recognizing/enforcing ICSID awards (Case Nos. ARB/13/36 and ARB/13/31, rectified). Available at: https://www.italaw.com/sites/default/files/case-documents/italaw16545.pdf
Freshfields Bruckhaus Deringer. (2023). The US proves to be a promising jurisdiction to enforce intra-EU investor-State awards. Available at: https://riskandcompliance.freshfields.com/en/insights/the-us-proves-to-be-a-promising-jurisdiction-to-enforce-intra-eu-investor-state-awards
Freshfields Bruckhaus Deringer. (2024). Major hurdle cleared: US courts have jurisdiction to examine enforcement actions of intra-EU awards. Available at: https://riskandcompliance.freshfields.com/en/insights/major-hurdle-cleared-us-courts-have-jurisdiction-to-examine-enforcement-actions-of-intra-eu-awards
González Navarro (2023). La Justicia británica embarga cuatro cuentas del Estado y del Instituto Cervantes por la deuda con las renovables. ABC. Available at: https://www.abc.es/economia/justicia-britanica-embarga-cuatro-cuentas-estado-instituto-20231128181752-nt.html
Greenly. (2023). Why the ECT is hindering the fight against climate change. Available at: https://greenly.earth/en-us/blog/ecology-news/energy-charter-treaty
High Court of Australia. (2023). Kingdom of Spain v Infrastructure Services Luxembourg S.à.r.l. & Anor ([2023] HCA 11; Case No. S43/2022). Available at: https://www.hcourt.gov.au/sites/default/files/assets/publications/judgment-summaries/2023/hca-11-2023-04-12.pdf
High Court of England and Wales, Commercial Court. (2022). Approved judgment granting urgent anti-suit injunction (Case No. CL-2022-000322, [2022] EWHC 2062 (Comm)). Available at: https://www.twentyessex.com/wp-content/uploads/2022/08/CL-2022-000322-QBE-v-Generali24.pdf
International Centre for Settlement of Investment Disputes (ICSID). (2014). NextEra Energy Global Holdings B.V. and NextEra Energy Spain Holdings B.V. v. Kingdom of Spain (ICSID Case No. ARB/14/11). Available at: https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/14/11
International Centre for Settlement of Investment Disputes (ICSID). (2018). Writ of summons and request for interim measures filed in the District Court of Amsterdam (ICSID Case No. ARB/14/11). Available at: https://www.italaw.com/sites/default/files/case-documents/italaw170884.pdf
International Centre for Settlement of Investment Disputes (ICSID). (2018). NextEra Energy Global Holdings B.V. and NextEra Energy Spain Holdings B.V. v. Kingdom of Spain (ICSID Case No. ARB/14/11). Decision on provisional measures. Washington, D.C.: ICSID. Available at: https://www.italaw.com/sites/default/files/case-documents/italaw182095.pdf
International Centre for Settlement of Investment Disputes (ICSID). (1965). Convention on the Settlement of Investment Disputes between States and Nationals of Other States (Washington Convention, 18 March 1965, entered into force 14 October 1966, 575 U.N.T.S. 159). Washington, D.C.: World Bank/ICSID. Available at: https://icsid.worldbank.org/resources/rules-and-regulations/convention
International Centre for Settlement of Investment Disputes (ICSID). (2013). Infrastructure Services Luxembourg S.à.r.l. and Energia Termosolar B.V. (formerly Antin Infrastructure Services Luxembourg S.à.r.l. and Antin Energia Termosolar B.V.) v. Kingdom of Spain (ICSID Case No. ARB/13/31). Retrieved from https://acortar.link/IaiSuz
International Centre for Settlement of Investment Disputes (ICSID). (2013). Eiser Infrastructure Limited and Energía Solar Luxembourg S.à.r.l. v. Kingdom of Spain (ICSID Case No. ARB/13/36). Retrieved from https://www.italaw.com/sites/default/files/case-documents/italaw9050.pdf
Judgment of the Court of Appeal of England and Wales. (2024). UniCredit Bank GmbH v RusChemAlliance LLC ([2024] EWCA Civ 64). Available at: https://jusmundi.com/fr/document/decision/en-unicredit-bank-ag-v-ruschemalliance-llc-judgment-of-the-court-of-appeal-of-england-and-wales-2024-ewca-civ-64-friday-2nd-february-2024#decision_59355
Lavranos, N. (2025, January 3). Spain tops the ranking as the most non compliant state: Main findings of the 2024 report on compliance with investment treaty awards. Kluwer Arbitration Blog. Wolters Kluwer. Available at:: https://arbitrationblog.kluwerarbitration.com/2025/01/03/spain-tops-the-ranking-as-the-most-non-compliant-state-main-findings-of-the-2024-report-on-compliance-with-investment-treaty-awards/
Linklaters. (2021). The CJEU extends Achmea to intra-EU Energy Charter Treaty arbitrations in Komstroy: what next? Available at: https://knowledge.linklaters.com/post/102h5hy/the-cjeu-extends-achmea-to-intra-eu-energy-charter-treaty-arbitrations-in-ko
Newman, J., & Eymond-Laritaz, T. (2024). Sovereign investment dispute resolution is broken. Financial Times. Available at: https://www.ft.com/content/1d2c1e3e-cc2e-4d2f-a6d5-bb07ac7a1e92
Parliament of Australia. (1985). Foreign States Immunities Act 1985 (Cth). Available at: https://www.legislation.gov.au/Details/C2004A03235
Peters, P. (2021). Intra-EU investment arbitration: Frankfurt Court of Appeals finds BIT-based arbitration inadmissible. Dispute Resolution Germany. Available at: https://www.disputeresolutiongermany.com/2021/02/intra-eu-investment-arbitration-frankfurt-court-of-appeals-finds-bit-based-arbitration-inadmissible
Redwood, J., Hord, B., & Sutton, K. (2025). Challenging and enforcing arbitration awards: Australia. In Challenging and Enforcing Arbitration Awards: Australia (Know-how report). Global Arbitration Review. Available at: https://globalarbitrationreview.com/insight/know-how/challenging-and-enforcing-arbitration-awards/report/australia
Sicard-Mirabal, J., & Derains, Y. (2018). Introduction to investor-state arbitration. Alphen aan den Rijn: Kluwer Law International.
Simmons, J. B. (2025). ICSID in the US courts: The rocks of sovereign immunity? ICSID Review – Foreign Investment Law Journal, 40(1), 156–173. Available at: https://doi.org/10.1093/icsidreview/siae048
Spanish Renewable Debt Initiative (2024) Asset seizures. Spanish Renewable Debt. Available at: https://spanishrenewabledebt.com/en/i/asset-seizures
Speechlys. (2023). Conflicts of Interest in International Commercial Arbitration. Charles Russell Speechlys. Available at: https://www.charlesrussellspeechlys.com/en/news-and-insights/insights/arbitration/2023/conflicts-of-interest-in-international-commercial-arbitration/
Supreme Court of the United Kingdom. (2019). Micula v. Romania (UKSC/2018/0177).
UK Parliament (2023). State Immunity Act 1978. Available at: https://www.legislation.gov.uk/ukpga/1978/33
UNCTAD. (2009). Investor–State disputes: Prevention and alternatives to arbitration. United Nations Conference on Trade and Development. Available at: https://unctad.org/system/files/official-document/diaeia200911_en.pdf
United States Court of Appeals for the District of Columbia Circuit. (2024). Micula v. Government of Romania, 101 F.4th 47 (D.C. Cir. 2024). Available at: https://www.reuters.com/legal/micula-v-romania-dc-circuit-2024 United States Court of Appeals for the District of Columbia Circuit. (2024). Micula v. Government of Romania, 101 F.4th 47 (D.C. Cir. 2024). Available at: https://www.reuters.com/legal/micula-v-romania-dc-circuit-2024
United States Court of Appeals for the District of Columbia Circuit. (2024). NextEra Energy Global Holdings B.V. v. Kingdom of Spain, 112 F.4th 1088 (D.C. Cir. 2024).
United States Court of Appeals for the District of Columbia Circuit. (2024, December 2). Order in Slovak Republic v. Achmea B.V. (No. 23-7031). Washington, D.C.: D.C. Circuit.
United States Court of Appeals for the Ninth Circuit. (2006). E. & J. Gallo Winery v. Andina Licores S.A., 446 F.3d 984 (9th Cir. 2006).
United States District Court for the District of Columbia. (2023, February 15). 9REN Holding S.À.R.L. v. Kingdom of Spain, No. 19-CV-01871 (TSC), 2023 WL 2016933 (D.D.C.).
United States District Court for the District of Columbia. (2023, March 2). Petitioners’ motion for substitution (AES Solar Energy Coöperatief U.A., Ampere Equity Fund B.V. v. Kingdom of Spain, Civil Action No. 1:21-cv-03249-RJL). Available at: https://www.italaw.com/sites/default/files/case-documents/italaw171258_0.pdf
United States District Court for the District of Columbia. (2023). NextEra Energy Global Holdings B.V. v. Kingdom of Spain, 656 F. Supp. 3d 201 (D.D.C. 2023).
United States District Court for the District of Columbia. (2023). Blasket Renewable Investments, LLC v. Kingdom of Spain, 665 F. Supp. 3d 1 (D.D.C. 2023).
United States District Court for the Southern District of New York. (2023, March 29). Memorandum Opinion & Order, AES Solar Energy Coöperatief U.A. & Ampere Equity Fund B.V. v. Kingdom of Spain (Civil Action No. 1:21-cv-3249-RJL). Available at: https://www.italaw.com/sites/default/files/case-documents/italaw171258_0.pdf
Wehland, H. (2022). German Supreme Court confirms intra-EU BIT does not give access to investor-state arbitration in light of CJEU’s Achmea decision. Kluwer Arbitration Blog. Available at: https://arbitrationblog.kluwerarbitration.com/2022/02/09/german-supreme-court-confirms-intra-eu-bit-does-not-give-access-to-investor-state-arbitration-in-light-of-cjeus-achmea-decision
Wettstein, E.-M. (2024). German Regional Court Dismissed Spain’s Request for an Anti-Enforcement Injunction of an Intra-EU Investor-State Arbitration Award. Kluwer Arbitration Blog. Available at: https://arbitrationblog.kluwerarbitration.com/2024/07/11/german-regional-court-dismissed-spains-request-for-an-anti-enforcement-injunction-of-an-intra-eu-investor-state-arbitration-award
Esta obra está bajo una licencia internacional Creative Commons Atribución-NoComercial-SinDerivadas 4.0.
Derechos de autor 2025 Behavior & Law Journal