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Romania’s biggest ICSID cases, and what they mean for foreign investment
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.
Romania loses Washington lawsuit over Dobrogea wind farm
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.
Romania objects to EU-Mercosur free trade agreement, agriculture minister says
Romania opposes the free trade agreement with the countries of the Mercosur bloc, considering that it will bring significant harm to the agri-food sector and Romanian farmers, said agriculture minister.
Romania wins EUR 256 mln arbitration with solar parks investors
Romania has won an international arbitration case brought by investors in renewable energy, avoiding EUR 256 million in claimed damages.
Gabriel Resources appeals ICSID ruling on Rosia Montana gold mining project in Romania
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.
How investment treaties undermine the voices of local communities
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 wins EUR 330 mln ICSID arbitration lawsuit filed by owners of bankrupt insurer Astra
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 and EIG launch EUR 500 mln arbitration proceedings against Romania
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.
Romania wins legal battle against a Canadian miner over failed plans to open a gold mine
The Romanian government has won a years long legal dispute with a Canadian mining company seeking damages over failed plans to open a gold and silver mine in the Eastern European country.
Gabriel Resources asks USD 6.5 bln from Romania in gold mine project lawsuit
The final amount requested by Gabriel through interest recalculation has doubled, reaching USD 6.5 billion.
EU agrees trade deal with Kenya as Brussels aims to boost Africa ties
The EU has agreed a trade deal with Kenya, marking an important step in Brussels’ efforts to boost economic relations with Africa.
Romania loses arbitration versus investors in solar power
A tribunal operating under the World Bank has ruled in favor of ten companies that initiated arbitration with the argument that Romania violated the Energy Charter Treaty by lowering incentives for their solar power plants.
Romania wins EUR 2 bln dispute at ICSID against Romanian-Swedish investors Micula
A committee attached to the Washington International Court (ICSID) definitively rejected the €1.8 bln claims of Romanian-Swedish investors Ioan and Viorel Micula.
Ancient Romanian gold mine given UNESCO protection
The derailment of the plans led Canadian mining company Gabriel Resources to sue the Romanian government for $5.7 billion before the Washington-based ICSID.
Romania mining town Rosia Montana eyes UNESCO restart
Meanwhile, Gabriel Resources has taken Romania before the World Bank’s International Centre for Settlement of Investment Disputes, seeking $4.4 billion (3.7 billion euros) in damages.
Wind farm owner sues Romania at WB’s arbitrage court
Cyprus-based offshore EP Wind Project (Rom) Six Ltd claims that Romania has breached the Energy Charter Treaty.
2019 annual results
Gabriel has provided notice to Romania of a dispute with regard to Romania’s application to UNESCO in relation to Roşia Montană and has reserved its right to commence a further arbitration.
Romania wins €2.36bn lawsuit against spirits producer
Romania has won the second lawsuit filed against it by brothers Ioan and Viorel Micula, who accused Romania of allowing the development of a black market for the sale of alcohol.
People power in Romania stopped a mining project. now the corporation is suing for billions of dollars
Romanian and US environmental justice activists demonstrated in Washington, DC, outside a World Bank tribunal hearing on a case brought by Canadian-based Gabriel Resources.
Romania agrees to pay large compensations to Romanian-Swedish investors
The Government took this decision to unlock the accounts of Romania’s air control company Romatsa, frozen by the Miculas.