OPERAFUND ECO-INVEST SICAV PLC V KINGDOM OF SPAIN

[2025] EWHC 2874 (Comm), King's Bench Division, Commercial Court, His Honour Judge Pelling KC, 10 November 2025

Arbitration – ICSID Convention – Whether ICSID Award assignable – Issue estoppel – Civil Jurisdiction and Judgments Act 1981, sections 31 and 33

On 6 September 2019 the claimants obtained an Award under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States 1965 (ICSID) in which they were awarded the sum of €29.3 million in damages for the passing of legislation revoking tariffs and incentives by the defendant in breach of the Energy Charter Treaty 1994.