Romania currently has nine pending cases with the International Centre for the Settlement of Investment Disputes. Here are three of three of the biggest cases in the last few years, and what they mean for foreign investors in Romania.
The Romanian state has lost a lawsuit pending before the International Court of Arbitration in Washington, initiated in 2020 by an investor in the renewable energy sector.
Un panel del CIADI ha rechazado una reclamación de 256 millones € de un grupo de 44 inversores en energías renovables, de múltiples nacionalidades, encabezado por la italiana Fin.Doc.
Le CIRDI a annoncé avoir enregistré la demande de Gabriel Resources d’annuler la décision favorable à la Roumanie et avoir notifié aux parties la suspension provisoire de son exécution, lors des délibérations sur la demande d’annulation.
Canadian company Gabriel Resources filed an appeal against the decision of the Washington Arbitration Court by which Romania won the case in the Roșia Montană gold mining project, requesting its annulment.
Dispute settlements in international investment law protect the rights of companies. However, they suppress the voice of local communities, as Stephanie Triefus found in her PhD research.
Romania won the litigation case filed by the owner of the bankrupt insurer Astra Asigurari, Dutch-based Nova Group Investments controlled by the Adamescu family, according to a note published by the Romanian Ministry of Finance.
Eurohold Bulgaria AD and Euroins Insurance Group AD said they have officially filed a request for arbitration against the government of Romania at the International Centre for Settlement of Investment Disputes in Washington, DC.