Summary

OPINION AND ORDER

This is a long-running dispute over energy supply contracts between a Ukrainian electricity provider and a Moldovan state-owned utility dating back to 1999. This Court's involvement in the matter, however, began in 2014 when petitioner's predecessor-in-interest, LLC Energoalliance, moved to confirm a foreign arbitral award rendered in its favor, and against the Republic of Moldova, by an ad hoc arbitral tribunal seated in Paris, France. After an extended stay, this Court confirmed the award and entered judgment in favor of petitioner. See LLC Komstroy v. Republic of Moldova, No. 14-cv-01921 (CRC), 2019 WL 3997385 (D.D.C. Aug. 23, 2019). Moldova appealed to the D.C. Circuit, and the Circuit affirmed this Court's orders lifting its earlier stay, confirming the arbitral award, and awarding prejudgment interest. LLC SPC Stileks v. Republic of Moldova, 985 F.3d 871 (D.C. Cir. 2021). However, rather than affirming the judgment, the D.C. Circuit vacated the Court's order converting the judgment amount from Moldovan lei to U.S. dollars, and remanded for further consideration of that issue. Id. at 883. On remand, both sides agree to denominate the award in Moldovan lei. Still before the Court, however, is petitioner's motion to determine the prejudgment interest rate and yet another motion by Moldova for a stay pending the outcome of the still-ongoing proceedings in France. For the reasons explained below, the Court will deny the motion for a stay and grant prejudgment interest based on the average U.S. prime rate.

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