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A. LEGISLATION AND RULES There have been no relevant legal developments on arbitration in Spain during 2021. B. CASES B.1       Award annulment proceedings: the interpretation of a contractual clause cannot be alleged as contrary to public policy when the arbitration award is reasoned and compliant with the applicable foreign law. Judgment of Madrid High Court of Justice No. 27/2021 dated 4 May 2021 In this case, the parties had entered into a Liquefied Natural Gas…

Tribunal dismisses investor’s claims because of breach of admissibility requirements under the applicable BIT in the ICSID case Supervisión y Control S.A. v. Republic of Costa Rica On January 18, 2017, the Tribunal in the case of Supervisión y Control S.A. v. Republic of Costa Rica (ICSID Case No. ARB/12/4), through a majority decision, ruled inadmissible all the claims put forth in the arbitration, as a result of an invalid waiver by the Claimant…