Belgium releases 75 million embargoed to Enaire due to renewable lawsuits against Spain
The Belgian Court annuls the attachment order instigated by the Blasket fund on the air fees managed by Eurocontrol and consolidates the Community doctrine that prohibits the enforcement of intra-community arbitral awards.
A Belgian court has annulled an order to embargo air traffic control fees managed by Eurocontrol and paid to Enaire, following a challenge by the Spanish State's Attorney General and Enaire. The court ruled that the arbitration award, won by the US fund Blasket, was incompatible with EU law and therefore could not be enforced within the EU.
The award, worth €59.6 million, was given to RREEF by the International Centre for Settlement of Investment Disputes (Ciadi) in 2019. The court also ordered Blasket to pay all legal costs.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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