ESPF Beteiligungs GmbH, ESPF Nr. 2 Austria Beteiligungs GmbH and InfraClass Energie 5 GmbH & Co. KG v. Italy, ICSID Case No. ARB/16/5
- >Claimant : ESPF Beteiligungs GmbH, ESPF Nr. 2 Austria Beteiligungs GmbH, InfraClass Energie 5 GmbH & Co. KG
- >Nationality : Germany, Austria, Germany
- >Respondent : Italy
- >Procedural rules applied :
ICSID
- >Chair :
Henri Álvarez
- >Arbitrator appointed by Claimant :
Michael Pryles
- >Arbitrator appointed by Respondent :
Laurence Boisson de Chazournes
- >Invoked instruments :
ECT
- >Articles mentioned :
Article 26 (1)
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, Article 26 (2)
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, Article 26 (3)
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, Article 26 (4)
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, Article 26 (6)
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, Article 21 (7)
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, Article 16 (2)
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, Article 16 (1)
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, Article 10 (1)
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, Article 1 (6)
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, Article 1 (7)
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, Article 1
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, Article 10
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, Article 13
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, Article 16
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, Article 21
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, Article 24
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, Article 25
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, Article 26
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>Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- >Breaches found :(10.1) Unreasonable or discriminatory measures
- > Breaches found :(10.1) Umbrella clause
- > Breaches found :(10.1) Fair and equitable treatment
- >Case status :
Award rendered
- >Year of the award or agreement :
2020
- >Year of registration :
2016
- >Subject matter of the dispute: Legal reforms affecting the renewable energy sector
- >Amount claimed: EUR 28.6 million
- >Amount awarded: EUR 16 million
- >Valuation method: income-based approach (discounted cash flow)
- >Interest rate: annual EURIBOR + 4%
- >Costs of arbitration: USD 913,142.58
- >Award legal costs: Claimants were awarded EUR 1,758,577 (60% of legal costs)
- >Award costs of arbitration: Costs follow the award
ARBITRAL DECISION
