BRUSSELS — Spanish officials are dismissing concerns that international investors could attempt to seize the Royal Spanish Football Federation’s assets while it plays in World Cup matches in the United States.
Ahead of the national team’s opening match against Cape Verde in Atlanta on Monday, Blasket Renewable Investments LLC has issued subpoenas demanding Adidas, Hilton hotels and other entities involved in Spain’s World Cup participation hand over documents detailing their financial dealings with the Spanish delegation.
The investor, a Delaware-based investment holding company, specializes in sovereign debt recovery. Its legal action relates to a dispute dating back to 2013, when then-Prime Minister Mariano Rajoy cut generous subsidies that had encouraged investors to acquire stakes in solar and other renewable energy projects in Spain.
Those cuts triggered a wave of investor claims under the Energy Charter Treaty, a controversial international agreement that was originally intended to protect energy investments in the former Soviet Union against government intervention.
