Insolvency and Arbitration Agreements in Spain: Following on from Decision 266/2019 of 30 September 2019
2021 Investment Arbitration Outlook Uría Menéndez, n.º 8
In issue 7 of the Investment Arbitration Outlook we commented on Judgment 266/2019 o?? Commercial Court Number 1 of Santander in which the Court upheld a request to suspend the efects o?? an arbitration agreement on the grounds that it could be detrimental to insolvency proceedings.
To recap, an events promoter and the representatives of an artist signed a contract pursuant to which the artist was to perform a concert in Spain in summer o?? 2018 (the‘Contract’). The Contract included an arbitration agreement and was governed by the laws of England and Wales. The artist did not show up for the concert and did not return all of his fee.