![CL-2021-000481 - [2025] EWHC 2874 (Comm)](https://backend.juristeca.com/files/emisores/logo_WAai98v.png){kind=logo}
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Neutral Citation Number: [2025] EWHC 2874 (Comm)
Case No: CL-2021-000481
IN THE HIGH COURT OF JUSTICE
BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES
COMMERCIAL COURT (KBD)
Royal Courts of Justice, Rolls Building
Fetter Lane, London, EC4A 1NL
Date: 10/11/2025
Before :
HIS HONOUR JUDGE PELLING KC
SITTING AS A JUDGE OF THE HIGH COURT
Between :
(1) OPERAFUND ECO-INVEST SICAV PLC (2) SCHWAB HOLDING AG | Claimants |
- and - | |
THE KINGDOM OF SPAIN | Defendant |
Christopher Harris KC and Mark Wassouf (instructed by Duane Morris) for the Claimants and Applicant
Cameron Miles (instructed by Simmons & Simmons LLP) for the Defendant
Hearing dates: 28-29 October 2025
Approved Judgment
This judgment was handed down remotely at 9.30am on 10 November 2025 by circulation to the parties or their representatives by e-mail and by release to the National Archives.
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HIS HONOUR JUDGE PELLING KC SITTING AS A JUDGE OF THE HIGH COURT
- Heading
- HH Judge Pelling KC
- The Factual Background
- The Substitution Application
- The Issue Estoppel Argument
- The Assignability Issue
- Assignability of the Award
- Construction of the ICSID and ECT Relevant to Assignability of the Award
- Customary International Law Relevant to Assignability of the Award
- Assignment of the English Litigation Rights
- Conclusions