This Memorandum Opinion from the United States District Court for the District of Columbia addresses post-judgment motions concerning the enforcement of a recognized ICSID arbitral award in favor of Blasket Renewable Investments, LLC against the Kingdom of Spain. The principal issues before the Court were: (i) Spain's cross-motion for an unbonded stay of judgment enforcement and discovery pending appeal; (ii) Blasket's motion for an order authorizing the commencement of execution proceedings under the Foreign Sovereign Immunities Act (FSIA); (iii) Blasket's motion to register the judgment in other federal districts; and (iv) Spain's motions to quash third-party subpoenas.

The Court denied Spain's motion for a stay. Applying the D.C. Circuit's analytical framework, which requires a supersedeas bond for a stay as of right, the Court found that Spain failed to meet the high burden for an unbonded stay. An unbonded stay is reserved for "unusual circumstances" where the judgment creditor's ultimate recovery is not endangered. The Court reasoned that the conflict between U.S. obligations under the ICSID Convention and a European Commission decision deeming payment of the award unlawful state aid, while an unusual circumstance, was one that actively imperiled Blasket's recovery. Granting a stay would prejudice Blasket's priority among a class of creditors competing to attach Spain's limited non-immune assets in the U.S.

Concurrently, the Court granted Blasket's motion to commence enforcement proceedings. Pursuant to 28 U.S.C. § 1610(c), execution against a foreign state may begin after a "reasonable period of time" has elapsed. The Court held this standard was met, as five months had passed since the entry of final judgment, during which Spain demonstrated a clear strategy of opposition rather than compliance. The Court noted that the pendency of an appeal is immaterial to the § 1610(c) analysis, as the proper procedural mechanism to forestall execution during an appeal is a supersedeas bond. The Court also found "good cause" under 28 U.S.C. § 1963 to permit Blasket to register the judgment in other districts, based on the undisputed absence of sufficient assets in the District of Columbia and Spain's failure to post a bond.

The operative holdings granted Blasket's motions to commence enforcement and to register its judgment, and denied Spain's cross-motion for a stay of enforcement and discovery. The Court deferred ruling on Spain's motions to quash third-party subpoenas, finding the disputes were not yet ripe for judicial resolution due to the parties' failure to satisfy their obligation to meet and confer under the local rules. The parties were directed to confer on the outstanding discovery disputes.