[2025] FCA 1469
General information, not legal advice.
Federal Court of Australia
2025-11-26
Stewart J
Original judgment source is linked above.
Blasket Renewable Investments LLC v Kingdom of Spain [2025] FCA 1028
Infrastructure Services Luxembourg S.à.r.l. v Kingdom of Spain (security for costs) [2024] FCA 234
Kim v Wang [2025] FCA 1244
Kingdom of Spain v Infrastructure Services Luxembourg S.à.r.l. (Security for Costs) [2024] FCAFC 113
Kingdom of Spain v Infrastructure Services Luxembourg Sàrl (No 3) [2021] FCAFC 112; 392 ALR 443
Swiss Bank Corporation v New South Wales (1993) 33 NSWLR 63
Tianjin Jishengtai Investment Consulting Partnership Enterprise v Huang [2020] FCA 767
Traxys Europe SA v Balaji Coke Industry Pvt Ltd (No 5) [2014] FCA 976; 318 ALR 85
Traxys Europe SA v Balaji Coke Industry Pvt Ltd (No 2) [2012] FCA 276; 201 FCR 535
Solicitor for the Applicants in NSD2169/2019, NSD365/2020 and NSD415/2023:
Counsel for the Respondent in NSD2169/2019, NSD365/2020 and NSD449/2020:
Solicitor for the Respondent in NSD2169/2019, NSD365/2020 and NSD449/2020:
(a) EUR 58,500,000.00; and
(b) Interest on the amount in order 1(a) at the rate of 2.07% per annum, compounded monthly, from 30 June 2014 to the date of payment of the Award.
Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.
(a) EUR 41,760,000.00;
(b) Interest on the amount in order 1(a) at an interest rate equivalent to the 5-year Spanish Government bond yield compounded annually from 30 June 2014 until Spain's full and final satisfaction of the Award; and
(c) USD 4,814,570.00 and EUR 562,458.00 for costs as awarded to the applicant in the Award;
(d) USD 299,908.16 in payment of the fees and expenses of the tribunal paid by the applicant, as awarded to the applicant in the Award; and
(e) USD 6,103.01 in payment of the applicant's costs awarded in the Decision on Spain's Request for Rectification of the Award dated 6 December 2019.
Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.
(a) EUR 77,000,000.00;
(b) Interest on the amount in order 1(a) from 20 June 2014 to the date of the Award at 1.16% per annum, compounded monthly, being EUR 5,149,503.84;
(c) Post-Award interest at 2.16% per annum, compounded monthly from the date of the Award to the date of payment;
(d) Watkins Holding S.à.r.l. and Watkins (Ned) B.V. (the Original Applicants) costs of the Award arbitral proceedings, being EUR 2,515,291.69; and
(e) The Original Applicants' costs of the rectification proceedings, being EUR 63,293.39 for legal costs and USD 36,772.13 for the costs of the rectification.
(a) USD 64,783.34 for the fees and expenses of the Revision Tribunal, ICSID's administrative fee, and direct expenses; and
(b) EUR 244,839.70 for the Original Applicants' legal fees and expenses.
Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.
(a) EUR 290,600,000.00;
(b) Pre-award interest on the amount in order 1(a) from 30 June 2016 to 31 May 2019 at the rate of 0.234%, compounded monthly;
(c) USD 132,368.86 in payment of the respondent's share of the costs of the arbitration proceeding;
(d) USD 4,147,031.81 and EUR 1,042,135.30 in payment of one-third of the applicants' costs of the arbitration proceeding; and
(e) Post-Award interest on the amounts in orders 1(a)-(d) from 31 May 2019 to the date of payment at the rate of 0.234%, compounded monthly.
Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.
(1) The rate of pre-judgment interest to be awarded in the NextEra proceeding (NSD415/2023);
(2) The rate of post-judgment interest to be awarded in each of the proceedings; and
(3) Whether the orders to be made in each of the proceedings should include orders contemplating future execution procedures.
Issue 1: pre-judgment interest in the NextEra proceeding (NSD415/2023)
Issue 2: post-judgment interest in all the proceedings
Issue 3: execution procedures in all the proceedings
I certify that the preceding thirty-one (31) numbered paragraphs are a true copy of the Reasons for Judgment of the Honourable Justice Stewart.
Blasket Renewable Investments LLC
Kingdom of Spain
(1993) 33 NSWLR 63