Spanish Ministry finds that Chile is entitled to immunity in relation to an action seeking (...)

In the Spanish court enforcement proceedings of an ICSID award in the Pey Casado v Chile case, a second report issued in October 2023 by the Spanish Ministry (MAEC) has recently surfaced. It concludes that, although ratification of the ICSID Convention and the relevant BIT will generally entail a waiver of the state's sovereign immunity from jurisdiction with respect to an action seeking enforcement of pecuniary obligations imposed in an ICSID award, waiver of immunity does not apply where the award creditor seeks to expand the relief sought beyond that contained in the ICSID award.

See complete article at: Practical Law Arbitration, 25-Jun-2024.