Region: Romania

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

Romania hit with another renewables claim

Romania is facing yet another Energy Charter Treaty claim at ICSID in the wake of cuts to its renewable energy incentives scheme.

04 May 2022

Russian state-owned energy group threatens Lithuania

Russian state-owned energy group Inter RAO has threatened Lithuania with a treaty claim.

07 April 2022

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

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