The European Commission warns that the UK will risk at least one fine if it does not implement the decision of the Court of Justice of the European Union (CJEU) last June that this body rules in the Prestige case of the Spanish ruling, which imposes compensation of 855 million euros for the insurer, on the decision Arbitration promoted by the company in London. The European Commission announced its position in response to People’s Representative Francisco Milan Moon regarding the CJEU ruling.
In his question, the parliamentarian poses questions to the European Commission about the tools it has in the exit agreement agreed with the UK and in the current Trade and Cooperation Agreement to “ensure” implementation in the former member state of rulings by EU courts and its states. In his question, Milan Moon notes that the CJEU decided in its decision that the arbitration filed in the UK over the sinking of the oil tanker “could not prevent recognition” of the Spanish ruling condemning the insurer to repair the damage caused by the oil slick. , so that the London P&I Club is obligated to comply with the ruling of the Spanish Supreme Court and the enforcement order of the A Coruña Regional Court, which obliges the insurer to pay compensation to Spain of 855 million. However, the MP adds that “some voices” are warning that the insurer “can still” avoid the CJEU ruling through the UK judiciary. The company, having learned of the decision, stated that “the appropriate scope and impact of the CJEU decision must be fully considered” and “its significance will ultimately be interpreted by the English courts.”
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