Cef Energia, B.V. v. Italian Republic

Cef Energia, B.V. v. Italian Republic

Opinion

MEMORANDUM OPINION GRANTING RESPONDENT'S MOTION TO STAY

Petitioners CEF Energia, B.V. ("CEF Energia"), Greentech Energy Systems A/S (now known as Athena Investments A/S) ("Greentech"), NovEnergia General Partner S.A. (acting as liquidator of NovEnergia II Energy & Environment (SCA) SICAR) ("NEE"), and NovEnergia [*2]  II Italian Portfolio ("NIP") (collectively, "Petitioners") are seeking to enforce two arbitral awards against the Italian Republic ("Italy" or "Respondent"). (See Pet. to Confirm Foreign Arbitral Award ("CEF Pet."), Case No. 19-cv-3443, ECF No. 1-1, at 1; Pet. to Confirm Foreign Arbitral Award ("Greentech Pet."), Case No. 19-cv-3444, ECF No. 1-1, at 2.)¹ Petitioners are companies that are incorporated in various European countries, and they engaged in two arbitrations with Italy under the Rules of Arbitration of the Arbitration Institute of the Stockholm Chamber of Commerce ("Stockholm Rules"). (Id.) After Petitioners prevailed, Italy sought to set aside, or annul, the awards in the Svea Court of Appeal in Sweden (the "Svea Court"), and the Svea Court issued orders that prohibit the enforcement of the awards pending resolution of the challenge. (See Pet'rs' Response to Mot. to Dismiss ("Pet'rs' Response"), ECF No. 35, at 15-16.)

Before this Court at present are Italy's motions to dismiss the Petitioners' bid to have this Court enforce the arbitration awards. (See Resp't's Mem. in Support of Mot. to Dismiss CEF Pet. ("Resp't's Mem. to Dismiss CEF"), Case No. 19-cv-3443, ECF No. 26-1; [*3]  Resp't's Mem. in Support of Mot. to Dismiss Greentech Pet. ("Resp't's Mem. to Dismiss Greentech"), Case No. 19-cv-3444, ECF No. 35-1.) Italy argues that this Court lacks jurisdiction over these petitions and that the awards are not enforceable, or, in the alternative, Italy requests a stay of these proceedings pending the outcome of Italy's appeals in the Svea Court. (See Resp't's Mem. to Dismiss CEF at 9-10; Resp't's Mem. to Dismiss Greentech at 8-9.)

As discussed herein, this Court is persuaded that a temporary stay is in the interests of judicial economy and international comity, especially given the significant legal issues that underlie the parties' dispute, which arise from, and relate to, European Union law. Therefore, Italy's motion to stay the instant action will be GRANTED, and this case will be STAYED pending further Order of this Court. A separate Order consistent with this Memorandum Opinion will follow.

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