The effect of certain recent Spanish court decisions annulling arbitral awards in high-profile cases will be a subject of intense debate in Spanish legal circles. How the cases are viewed and understood by the Spanish arbitral community could have a significant effect on the development of arbitration in the country, jump-started by a 2003 UNCITRAL-based arbitration law and a series of amendments promulgated in mid-2011. Two very contrasting views are emerging: Some will see the cases as favouring the development of arbitration in Spain by setting down useful guidance as to arbitrator and counsel conduct; others will see view them as constituting unwarranted judicial meddling and thus as damaging to the development of arbitration in the country. This article frames the issues and sets out the two diverging views on the topic.