Magistrate Judge recommends that Spain’s motion to dismiss enforcement of EUR 35 million ICSID arbitral award be denied

On 31 March 2023, US Magistrate Judge Moxila A. Upadhyaya recommended that the District Court for the District of Columbia deny the Republic of Spain’s motion to dismiss the enforcement of the EUR 35 million arbitral award an ICSID tribunal made in favour of Plaintiffs – Cube Infrastructure Fund SICAV, Cube Infrastructure Managers S.A., Cube Energy S.C.A., Demeter Investment Managers S.A.1 and Demeter 2 FPCI – on 15 July 2019 [ICSID Case No. ARB/15/20].