US Court grants stay of proceedings with due deference to ICSID regime

Diego L. Alonso Massa -

In Cube Infrastructure v Spain, two separate adjudicators made what appear to be conflicting decisions based on the same underlying facts. Both decisions concerned applications by Spain to stay the enforcement of an ICSID award rendered on 15 July 2019 in which Spain was ordered to pay €33.7 million together with interest and costs.