The US Opens the Door to Seize 135 Million Euros From Spain for Non-Payments of Renewables
16 Articles
16 Articles
Those affected by the reduction of premiums, the majority represented by a litigation fund, conclude the process of identifying properties susceptible to blocking
Spain faces a million-dollar embargo for renewables: US justice has just given the green light to the embargo on Spanish sovereign property in order to settle the outstanding compensations in the energy sector. Madrid suffered a direct setback in trying to curb this precautionary measure in North America. This judicial determination obliges the State to face multi-million dollar payments after the modifications applied to the green premium syste…
El Mundo
Spain's insistence that European law prevents it from paying could be an indication that there is a reasonable likelihood that Spain will not be able or unwilling to comply with the judgment, as the Court concludes.
U.S. Justice opens the door to creditors for renewables to move forward in lieu of 136 million
The court rejects the arguments of the Spanish defence based on Community law, denies the request to suspend execution and grants investors’ requests to move forward with the seizure and enforcement of assets
According to the courts, the 'European Shield' not only does not slow down enforcement, but reinforces the creditors' argument.
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