US Court Backs Enforcing Arbitration Award Against Spain in Renewables Saga [Financial Post (Toronto, Ontario, Canada)]
JGC HOLDINGS CP UNSP/ADR (JGCCY)
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Source: Financial Post
retroactive withdrawal of renewable premiums, according to a court document seen by Bloomberg. Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — A federal court for the District of Columbia authorized the enforcement of an arbitration award favoring one of the companies affected by Spain's retroactive withdrawal of renewable premiums, according to a court document seen by Bloomberg. With the ruling filed Thursday, the claimants will be able to initiate proceedings for the recovery of pending payments through the seizure of Spanish commercial assets in the US and issue subpoenas against Spanish officials, Blasket Renewable Investments LLC — which bought the claims in a case first linked to Japan's JGC Corp. — said in a release Friday. Spain has been defending itself in courts since 2012 in legal tussles linked to how the country shifted the goalposts for investors drawn by a 2007 pledge to fund r
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