Region: Romania
ICSID round-up: a defeated claim, an award upheld and new cases
An ICSID tribunal has dismissed a claim worth more than US$95 million brought by US mining companies against Rwanda, while Spain has failed to overturn a renewables award and there are new cases against Romania and Iraq.
04 April 2022
Romania knocks out ICSID claim over real estate project
An ICSID tribunal has thrown out a US$200 million treaty claim against Romania over a real estate project that became the subject of a criminal investigation.
18 March 2022
EU’s top court rules against Miculas in state aid saga
The Court of Justice of the European Union has ruled that the European Commission was competent to decide that Romania’s payment of a €178 million ICSID award in favour of the Micula brothers would violate state aid rules – also finding that Achmea is relevant to the case.
25 January 2022
Miculas fail to revive alcohol claim against Romania
Sweden’s Micula brothers have failed to revive a US$2 billion ICSID claim against Romania over the state’s alleged failure to police its black market in alcohol.
06 January 2022
Romania faces another renewables claim
Undeterred by a recent ruling from the European Court of Justice on the scope of the Energy Charter Treaty, an Austrian energy utility has lodged an ICSID claim against Romania over reforms to its renewable energy incentives scheme.
02 November 2021
Advocate general urges CJEU to rule against Miculas
An adviser to the Court of Justice of the European Union (CJEU) has sided with the European Commission in its battle to prevent Romania from paying a €178 million ICSID award in favour of the Micula brothers.
05 July 2021
Romania secures extradition of ICSID witness
A London court has upheld a ruling allowing Romania to extradite the key witness in an ICSID case to face corruption charges – despite a recommendation by the arbitral tribunal that a warrant for his arrest be suspended.
23 October 2020
UK Supreme Court lifts stay of Micula award
The UK Supreme Court has ruled that Sweden’s Micula brothers are entitled to enforce an ICSID award worth €300 million against Romania even though it is the subject of a pending state aid investigation by the European Commission.
19 February 2020
Belgian court seeks guidance from ECJ on Micula award
The Brussels Court of Appeal has stayed the Micula brothers’ attempt to enforce their €178 million ICSID award against Romania, while agreeing to seek a preliminary ruling from the European Court of Justice on the relationship between EU law and member states’ enforcement obligations under the ICSID Convention.
28 March 2019