Total Owed by Spain
Total Interest and Legal costs incurred by Spain
€ 1,478,500,000
Total of the Principal Awards
€ 19,926,000,000
Damage to the Spanish Economy as a result of bond default procedures, increased uncertainty and added legal risks
€ 93,000,000
Legal Costs Incurred by Spain
Spain has more international arbitration debts than any other country in the world, topping the league table alongside Russia and Venezuela. Spain is one of a very select few countries, together with Venezuela, that refuses to settle final World Bank ICSID awards. Spain’s failure to honour her obligations is having serious consequences including asset seizures of state property, a Spanish bond default, huge interest and legal fees, reputational damage to Spain as an investment destination and implications for renewable energy investments worldwide. The Rule of law is under threat and the Spanish Government is failing its citizens, remarkably all of the cases against her are in renewable solar energy.
Key Facts
 affected families |
 international renewable energy investors |
 cases went to arbitration court, Spain lost 70% of them |
 most cases have been arbitrated through the World Bank backed International Centre for the Settlement of Investment Disputes in Washington DC |
 Spain has accumulated more unpaid international disputes than Russia or Venezuela |
 enforcement proceedings have begun with Asset Seizures and a Spanish Bond Default |
 unpaid awards against Spain |
 interest accrued and adverse legal fees |
 in adverse legal costs and other fees |
Media Coverage