Summary

MEMORANDUM OPINION

Plaintiffs Cube Infrastructure Fund SICAV, Cube Infrastructure Managers S.A., Cube Energy S.À.R.L., Demeter Investment Managers S.A. and Demeter 2 FPCI, which are companies based in France and Luxembourg, bring this action to confirm an arbitration award entered in their favor against Defendant, the Kingdom of Spain ("Spain"). The court (Sullivan, J.) referred this case to Magistrate Judge Moxila A. Upadhyaya for full case management pursuant to Local Civil Rule 72.3, including the preparation of a report and recommendation on Spain's motion to dismiss, Plaintiffs' motion for judgment on the pleadings, and Plaintiffs' alternative request for summary judgment, See Sep. 22, 2022 Minute Order. Upon consideration of the record, Magistrate Judge Upadhyaya's Report and Recommendation ("R&R"), Spain's objections, and the parties' supplemental briefs, and notices of supplemental authority and responses, the court will adopt the R&R in full; deny Spain's motion to dismiss; deny Plaintiffs' motion for judgment on the pleadings; and grant Plaintiffs' alternative motion for summary judgment.