Companies affected by Default on renewable energy sources It was filed in federal district court Colombia (United States of America) made its first official requests for information and documentation after the ruling against the Kingdom of Spain, within the intended procedure … Implement strict international arbitration rulings obligating the Iberian state to retroactively pay compensation owed to companies that suffered withdrawal Premiums made for investment In renewable energies.
The document, registered by King & Spalding LLP, requires Spain to provide, within a maximum period of 30 days, detailed information about its rights. Property, financial accounts, contracts, and assets located in the United StatesIn addition to data related to various public or private entities linked to the country through their shares or any other type of links.
The goal is to identify enforceable assets to satisfy obligations arising from arbitration awards. This is a task that the companies themselves developed in parallel, through advisory services specialized in tracking sovereign assets. However, the common law of countries such as the United States also allows this type of mandatory information requirement to be implemented when and when Detect cases of non-payment and non-compliance Of sentences.
The requests submitted include Spain’s obligation to provide documents relating to bank accounts, assets and property, debts and loans, international contracts, money transfers, etc. In addition, information is requested on various state entities, as in the case of SEPI, Renfe, Paradores, Instituto Cervantes, ENERE and ENECOamong other things, in order to determine whether they are actually acting as an “alter-ego” of the state and, therefore, assets can be seized, Within the framework of registration procedures and full judicial recognition of existing debts by American courts.
This step constitutes a normal stage in the international implementation of decisions in which, after a positive ruling, a Default scenario On the part of the debtor. Therefore, it was developed in accordance with the Federal Rules of Civil Procedure of the United States.
North American courts have already issued seven rulings against our country in recent weeks, in total 688.4 million. To the most recent decision, related to the 9Ren case and amounting to 44 million, we must add the corresponding decisions of other creditors such as Cube (40.2 million euros), Watkins (79.5 million), Infrastructure Services/Antin (125.1 million), RREEF (74 million), InfraRed (35 million) or NextEra (290.6 million). This series of negative judicial decisions of the Kingdom of Spain amounts to 688.4 million.
With this new line of work based on the official tracking and identification of Spanish goods and assets on American soil, the companies affected They proceed in the final stage to make the payment effective In amounts recognized in its favor by international arbitration bodies, in the context of lawsuits relating to the retroactive reduction in renewable energy premiums.
The total debt resulting from this issuance amounts to EUR 2,180 million, an amount that includes EUR 1,754.7 million in damages pending payment and EUR 416.4 million associated with late payment interest, costs orders and other additional costs.
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