ICSID ad hoc Committee rejects Spain’s application to annul ± EUR 30 million award

2 March 2023. An ICSID ad hoc Committee has rejected the Kingdom of Spain’s application to annul the Award rendered on 6 September 2019 in the ICSID arbitration proceeding OperaFund Eco-Invest SICAV PLC and Schwab Holding AG v. Kingdom of Spain (Case No. ARB/15/36), as rectified by the Tribunal’s Decision on Rectification dated 28 October 2019.