surinenglish

An avalanche of similar cases could cost the government billions

Ciadi’s decision could start an avalanche of similar claims by investors who believe they have been negatively affected by the government’s reform of the energy sector. This arbitration organisation already has 26 other cases to consider, and although each one has to be treated on its own merits, if it finds in their favour it could cost the government more than one billion euros in compensation.

With so many cases arising in response to its energy reforms, Ciadri is examining more claims against the government in Spain than in any other country. In second position, but far behind with seven cases pending, is the Czech Republic, followed by Russia and Turkey, with six each.