Work Area: State Aid
EU court affirms ban on Romania’s payment of ICSID award
The General Court of the EU has upheld a decision by the European Commission that enjoined Romania from paying a €178 million ICSID award in favour of the Micula brothers because it would violate state aid rules.
04 October 2024
Herlihy named Senior Counsel
A&O Shearman partner David Herlihy has been made a Senior Counsel in his native Ireland.
17 July 2024
Swedish court sets aside another ECT award against Spain
The Svea Court of Appeal has set aside a €48 million Energy Charter Treaty award in favour of European solar investors against Spain, finding that as an intra-EU award it was incompatible with fundamental principles of Swedish and EU law.
04 July 2024
US appeals court upholds recognition of ICSID award against Romania
A US appeals court has for the second time upheld the confirmation of an ICSID award in favour of Sweden’s Micula brothers against Romania, which the state argued had been voided as a result of decisions by the Court of Justice of the European Union (CJEU).
15 May 2024
CJEU says UK infringed EU law by enforcing Micula award
The Court of Justice of the European Union has ruled that the UK infringed EU law by allowing Sweden’s Micula brothers to enforce a €178 million ICSID award against Romania.
14 March 2024
German court permits full review of antitrust awards
The German courts can review the merits of arbitral awards relating to competition law, the country’s top court has ruled.
16 January 2023
Luxembourg’s top court blocks Micula award
The Luxembourg Court of Cassation has quashed the enforcement of the Micula brothers’ ICSID award against Romania on the basis that the arbitration clause in the underlying investment treaty was nullified when the state joined the European Union.
18 July 2022
Spain fails to annul largest renewables award
An ICSID committee has upheld the largest award yet issued against Spain over its renewable energy reforms, rejecting arguments that the investor had “unclean hands” or that the tribunal should not have agreed to hear an intra-EU dispute.
28 March 2022
EU targets UK over Micula award
The European Commission has launched infringement proceedings against the UK over a decision by its Supreme Court allowing enforcement of a €178 million ICSID award against Romania.
10 February 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