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Novenergia v. Spain, Motion to Substitute Foresight Fund Managers Ltd. for Petitioner, February 9, 2026

9 Feb 2026
Novenergia II - Energy & Environment (SCA) (Grand Duchy of Luxembourg), SICAR v. Kingdom of Spain, SCC Case No. 2015/063
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Motion to Substitute Foresight Fund Managers Ltd. for Petitioner
Document Details:
LISTED PARTICIPANTS
Motion to Substitute Foresight Fund Managers Ltd. for Petitioner
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Thomas C.C. Childs
Claimant's law firm
Respondent's counsel
Respondent's law firm
Other counsel
Claimant's expert
Claimant's expert firm
Respondent's expert
Respondent's expert firm
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Third-party funder
Entities
King & Spalding, Novenergia II – Energy & Environment, Foresight Fund Managers Limited, Spain
Country
United States
Print reporter
Document Summary
Motion to Substitute Foresight Fund Managers Ltd. for Petitioner
This summary note is machine-generated. Always consult the original materials.

Procedural Posture and Purpose

This document constitutes a joint motion filed by Novenergia II – Energy & Environment (SCA) and Foresight Fund Managers Limited pursuant to Federal Rule of Civil Procedure 25(c). The filing seeks an order substituting Foresight as the petitioner in the ongoing arbitral award enforcement action against the Kingdom of Spain before the United States District Court for the District of Columbia.

Principal Legal Issues and Parties' Positions

The principal procedural issue addressed is the propriety of substituting a party following a transfer of interest. The petitioners submit that substitution is warranted to facilitate the conduct of the litigation and promote judicial economy. Specifically, the motion asserts that Novenergia irrevocably assigned all legal and beneficial title to the underlying arbitral award to Foresight via a Deed of Assignment dated January 21, 2026. Consequently, Foresight now possesses the sole legal and financial interest in the recognition and enforcement of the award against Spain’s assets in the United States.

The respondent, the Kingdom of Spain, confirmed it does not oppose the substitution under Rule 25(c). However, Spain expressly reserved its rights regarding the validity of the putative assignment and the ultimate enforceability of the assigned rights under the arbitral award. The motion remains pending judicial determination by the District Court.