Roussalis v. Romania Spyridon Roussalis v. Romania (ICSID Case No. ARB/06/1)
Share purchase agreement concluded between the claimant and Romania's Authority for State Assets Recovery to acquire a controlling interest in a formerly State-owned enterprise engaged in the frozen-food warehousing business.
Claims arising out of disagreements over compliance with a post-investment obligation related to claimant's purchase of shares in a large frozen food warehousing facility from the Romanian government's privatization authority; also, other measures such as tax liabilities and penalties allegedly imposed on the investor's company by the Romanian authorities and the enforced closure of his operation because of an alleged failure to comply with EU-mandated food safety regulations.
Tertiary: H - Transportation and storage
52 - Warehousing and support activities for transportation
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Hanotiau, B.
Giardina, A.
Reisman, W. M.
Decided in favour of State
110.00 mln USD
Data not available
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

None - all claims dismissed at the merits stage