Netherlands seizes Cervantes Institute building in Utrecht

The Hague seizes a Cervantes Institute premises over the arbitration awards

Within Spain, the Administration is immune from seizure. Abroad, not so much anymore. On 19 March, the District Court of The Hague authorised the seizure of a building linked to the Cervantes Institute in Utrecht to begin collecting the debt recognised over the retroactive cuts to renewables. The property, a historic four-storey building on the sought-after Domplein, is valued at around 10 million euros. The seizure was notified on 20 April and took effect four days later.

Which building it is and why it can be seized

It is not an embassy or a consulate, figures protected by international law. It is a cultural centre offering classes, events and lectures, and that detail places it outside the diplomatic umbrella. The creditors also point to a registry loophole: the property is registered in the name of the Instituto Español de Emigración (Spanish Emigration Institute), the body in charge of directing emigration policy between 1956 and 1991. If the debt remains unpaid, the property will be sold before a notary. The buyer would acquire a building in one of the city's most desirable areas.

The award that gave rise to the debt: the Eurus and Toyota case

Behind the seizure is the fund Blasket Renewable Investments, based in Delaware, regarded as the great adversary of the Spanish State Attorney's Office in these international arbitration cases. It is enforcing the award of 17 March 2021 in the Eurus case, Toyota's green energy subsidiary, which recognised a debt of close to 100 million that became final a year and a half later. This has been a long time coming: the retroactive withdrawal of renewable energy subsidies, applied after years of promising investors a stable framework.

The seizures Spain is already facing around the world

This is the latest episode, not the first. Three years ago, a London court seized the Cervantes Institute's premises in London, froze its accounts and impounded the building of the Escuela Internacional Vicente Cañadas and a property belonging to the Generalitat de Cataluña. Australian courts have recognised four claims valued at 469 million, while Belgium has frozen 482 million that Spain was due to receive via Enaire. Singapore has upheld awards worth more than 100 million. In the United States, the District of Columbia court has accumulated seizures approaching 700 million, with NextEra at the forefront.

Whose fault is it, Zapatero's or Rajoy's?

There are two competing readings of the origin of the debt. One places the starting point in the socialist era, with the solar tax and the change of rules for renewables; the other argues that it was Mariano Rajoy's government that turned off the tap without agreeing compensation. Some warn of a chessboard scenario: the seizures keep piling up and the debt accrues interest until there is no Spanish asset left abroad.

The official plane and the 2026 World Cup, the next targets

There are reports that the official plane avoids certain destinations for antiestéticar of impoundment. Without official confirmation, they remain rumours. In the United States, discovery requests have already been directed at Spanish public entities and companies involved in organising the 2026 World Cup. The question is not whether there will be another seizure. It is how much Spanish property abroad is left to go after before someone in Madrid makes a move.