Image of Pablo Torres

Pablo Torres

Senior Associate

Pablo's practice focuses on international investment treaty and commercial arbitration, in matters related to various sectors and industries, seated in various jurisdictions and under the rules of the main arbitral institutions, including ICSID, UNCITRAL and ICC. In particular, Pablo has worked on more than a dozen several investment treaty arbitrations against the Kingdom of Spain, under ICSID and UNCITRAL rules, for alleged violations of the Energy Charter Treaty arising from changes in the economic incentives for the promotion of renewable energy production.

Pablo also frequently advises investment funds in connection with the purchase and sale of arbitration awards.

Pablo is a professor of International Commercial Arbitration within the Masters in International Europan Business Law at the Pontifical Universtity of Comillas (ICADE). Pablo also teaches the module 'International Investments' of the Master's Degree in International Business Law of the Illustrious Bar Association of Madrid and is co-author of the Spain section of International Arbitration Review, together with Emma Morales, counsel of the Litigation and Arbitration department.

Pablo was named Best Lawyer in Spain under 35 in 2023 by the newspaper Expansión.


Representative matters

Acted in 12 ECT claims against the Kingdom of Spain (PV Investors, Eiser, RREEF, Antin, Masdar, RWE Innogy, Stadwerke München et al, Watkins, Sevilla Beheer et al., Infracapital, EBL and Canepa). The claims arise out of retrospective changes made by Spain to the regulatory investment framework governing the renewables sector.

Mubadala / IPIC in the context of an international arbitration arising out of the termination of the Sponsorship Agreement entered into between IPIC and Real Madrid Club de Fútbol in October 2014, won in 2023. It was one of the most relevant arbitrations in the soccer world.

Manchester United, F.C. and Liverpool, F.C. regarding their participation in the European Super League Competition, and the related litigation against UEFA and FIFA before Commercial Court nº 17 of Madrid. The matter involves groundbreaking EU competition law issues.

Published Work

  • José Luis Terrón and Pablo Torres (2015) "Demanda de nulidad de Laudo: Caducidad de la acción e importancia de la cuantía a la hora de la tasación de costas", Madrid: La Ley-Wolters Kluwer
  • Emma Morales, Pablo Torres and Ana Velasco (2023) "The International Arbitration Review 14th Edition, Chapter 28, Spain", Madrid: The Law Reviews

Speaking Engagements

  • Pannelist, Multilateral Perspectives: Energy Disputes in International Context – The Energy Charter Treaty, Bucharest Arbitration Days, June 2022

Leadership Positions And Professional Affiliations

  • Madrid BAR Association
Team is absolutely excellent – top of the market. All the individuals are commercial, precise, detailed, dedicated. I would single out Pablo Torres, Emma Morales and David Ingle
Legal 500, 2023
They are very outstanding with excellent leadership, clear power of synthesis and argumentation and always responding quickly to client concerns: Marie Stoyanov, Antonio Vázquez-Guillén, and Pablo Torres
Legal 500, 2023


  • Best Lawyer in Spain under 35, Expansión, 2023



Abogado, Spain, 2013


Law Degree, Complutense University of Madrid, 2012 

Business Administration Degree, Complutense University of Madrid, 2013


Spanish, English
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.