Thread by @Act4Solidarity

📢#NoECT #StopISDS🛑
Why does the state never win in claims under the #EnergyCharterTreaty and how is #Luxembourg 🇱🇺connected to some of these claims?
The example of Abengoa Spain can give an insight in these questions:

Spain is the most sued country under the Energy Charter Treaty: it accumulates 50 lawsuits and a claimed amount of more than 10 billion euros. The solution is very simple: to avoid this waste of public money, the exit from the Treaty must be initiated.

In a claim under the #EnergyCharterTreaty it can never be said that "the State has won": the defence costs alone amount to millions of euros. As in the case of Abengoa Spain, Spain will have to pay 6.7 million taxpayers money only in process costs.
tinyurl.com/2h46jc5w

In 2013, Abengoa, a 🇪🇸Spanish engineering company, sued Spain under the #EnergyCharterTreaty: it claimed that the cut in subsidies for renewable energy disrupted its forecasts and accused the government of expropriation.

Although in theory the Treaty only allows foreign investors to sue other ECT signatory states, Abengoa found a way to sue its own country through a Luxembourg subsidiary CSP Equity Investment S.à.r.l. It claimed compensation of 1.18 billion euros. tinyurl.com/2p93p8rh

More than 20 pending cases involve an investment company located in #Luxembourg. Most of these cases are directed against Spain. Luxembourg plays a role in the #ECT and should therefore be a leader in the movement for#ExitECT, this dangerous and out-of-date treaty.
@ClaudeTurmes