US court rejects bid to seize Spain team assets at World Cup amid renewables dispute | OneFootball

A US court has rejected fund Blasket’s bid to seize assets linked to Spain’s national football team during the World Cup to recover a 47 million dollar award over 2013 renewable cuts. According to El Periódico Mediterráneo, District Judge John D. Bates said Blasket may pursue attachable Spanish assets but the team and federation are not alter egos of the State.

The judge found no evidence Spain controls the federation or team enough to treat them as state extensions. He also saw no reason to think US firms serving the team hold information on assets kept for Spain.

The dispute stems from the Mariano Rajoy government’s 2013 decision to cut renewable incentives retroactively, prompting international wind and solar investors to file claims at the World Bank’s ICSID.

Blasket won an ICSID award of 47 million dollars. After Spain refused to pay, it sought Spanish State assets in the United States and subpoenaed US companies serving the national side at the World Cup.

Spain asked to quash or narrow those subpoenas as excessively onerous and harassing, saying the financial data was irrelevant to enforcing the debt. The judge agreed, ruling the federation and national team are neither the State nor its alter egos.

Blasket also sought to include all Bank of Spain transactions. The court said the central bank should not be treated as part of Spain for these purposes.

Source: El Periódico Mediterráneo