1 |
2024
|
Eurohold and Euroins v. Romania
|
Eurohold Bulgaria AD and Euroins Insurance Group AD v. Romania (ICSID Case No. ARB/24/18)
|
Bulgaria - Romania BIT (1994) |
ICSID |
ICSID |
Investment: Investment in an insurance company, Euroins Romania Asiguarare-Reasigurare S.A. (“Euroins Romania”).
Summary: Claims arising out of alleged illegal actions of Government authorities to revoke the licence of the claimants’ local subsidiary, Euroins Romania, and to initiate insolvency proceedings against this insurance company. |
Investment in an insurance company, Euroins Romania Asiguarare-Reasigurare S.A. (“Euroins Romania”). |
Pending
|
Romania |
Bulgaria |
Tertiary: K - Financial and insurance activities |
65 - Insurance, reinsurance and pension funding, except compulsory social security |
Bethlehem, D. - President
Greenwood, C. - Unknown
Stern, B. - Unknown |
500.00 mln EUR (542.90 mln USD)
|
Data not available
|
Data not available |
Pending |
Data not available |
Data not available |
Data not available |
Data not available |
Data not available |
Data not available |
Data not available |
2 |
2022
|
Aderlyne v. Romania
|
Aderlyne Limited v. Romania (ICSID Case No. ARB/22/13)
|
The Energy Charter Treaty (1994) |
ICSID |
ICSID |
Investment: Investments in renewable energy projects.
Summary: |
Investments in renewable energy projects. |
Pending
|
Romania |
Cyprus |
Tertiary: D - Electricity, gas, steam and air conditioning supply |
35 - Electricity, gas, steam and air conditioning supply |
Bienvenu, P. - President
Gearing, M. - Claimant
Gunter, P.-Y. - Respondent |
Data not available
|
Data not available
|
Data not available |
Pending |
Data not available |
Data not available |
None |
None |
None |
None |
None |
3 |
2022
|
Clara Petroleum v. Romania
|
Clara Petroleum Ltd v. Romania (ICSID Case No. ARB/22/10)
|
The Energy Charter Treaty (1994) |
ICSID |
ICSID |
Investment: Investments in the exploration and production of hydrocarbons.
Summary: |
Investments in the exploration and production of hydrocarbons. |
Pending
|
Romania |
United Kingdom |
Primary: B - Mining and quarrying |
6 - Extraction of crude petroleum and natural gas |
van den Berg, A. J. - President
Schill, S. - Claimant
Thomas, J. C. - Respondent |
Data not available
|
Data not available
|
Data not available |
Pending |
Data not available |
Data not available |
None |
None |
None |
None |
None |
4 |
2022
|
Plaza Centers v. Romania
|
Plaza Centers N.V. v. Romania (ICSID Case No. ARB/22/15)
|
Netherlands - Romania BIT (1994) |
ICSID |
ICSID |
Investment: Investments in a shopping and entertainment center project in Bucharest, known as the "Casa Radio" and “Dambovita center” project.
Summary: |
Investments in a shopping and entertainment center project in Bucharest, known as the "Casa Radio" and “Dambovita center” project. |
Pending
|
Romania |
Netherlands |
Tertiary: F - Construction |
41 - Construction of buildings |
Weiler, T. - Claimant
Mayer, P. - Respondent
Collins, L. - President |
262.20 mln EUR (273.10 mln USD)
|
Data not available
|
Data not available |
Pending |
Data not available |
Data not available |
None |
None |
None |
None |
None |
5 |
2021
|
KELAG and others v. Romania
|
KELAG-Kärntner Elektrizitäts-Aktiengesellschaft and others v. Romania (ICSID Case No. ARB/21/54)
|
The Energy Charter Treaty (1994) |
ICSID |
ICSID |
Investment: Investments in wind farms.
Summary: Claims arising out of certain changes to Romania’s incentive scheme for investments in the renewable energy sector. |
Investments in wind farms. |
Pending
|
Romania |
Austria |
Tertiary: D - Electricity, gas, steam and air conditioning supply |
35 - Electricity, gas, steam and air conditioning supply |
Malek, A. - President
Tawil, G. S. - Claimant
Perezcano Diaz, H. - Respondent |
Data not available
|
Data not available
|
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Indirect expropriation |
Pending |
Data not available |
Data not available |
None |
None |
None |
None |
None |
6 |
2020
|
EP Wind v. Romania
|
EP Wind Project (Rom) Six Ltd. v. Romania (ICSID Case No. ARB/20/15)
|
The Energy Charter Treaty (1994) |
ICSID |
ICSID |
Investment: Investments in a 80 MW wind farm located in Chirnogeni, Dobrogea region.
Summary: Claims arising out of certain changes to Romania’s incentive scheme for investments in the renewable energy sector. |
Investments in a 80 MW wind farm located in Chirnogeni, Dobrogea region. |
Pending
|
Romania |
Cyprus |
Tertiary: D - Electricity, gas, steam and air conditioning supply |
35 - Electricity, gas, steam and air conditioning supply |
Poncet, C. - Claimant
Smouha, J. - Respondent
Scherer, M. - President |
Data not available
|
Data not available
|
Data not available |
Pending |
Data not available |
Data not available |
None |
None |
None |
None |
None |
7 |
2020
|
Fin.Doc and others v. Romania
|
Fin.Doc S.r.l., Domenica Gazineo, En.Doc S.r.l. and others v. Romania (ICSID Case No. ARB/20/35)
|
The Energy Charter Treaty (1994) |
ICSID |
ICSID |
Investment: Investments in photovoltaic power plants in Romania.
Summary: Claims arising out of certain changes to Romania’s incentive scheme for investments in the renewable energy sector. |
Investments in photovoltaic power plants in Romania. |
Pending
|
Romania |
Cyprus
Czechia
Germany
Greece
Italy
Luxembourg
Türkiye |
Tertiary: D - Electricity, gas, steam and air conditioning supply |
35 - Electricity, gas, steam and air conditioning supply |
Spigelman, J. - Claimant
McRae, D. M. - Respondent
Reed, L. - President |
Data not available
|
Data not available
|
Data not available |
Pending |
None |
None |
None |
None |
None |
None |
None |
8 |
2020
|
Sukyas v. Romania (I)
|
Jak Sukyas v. Romania (I) (PCA Case No. 2020-53)
|
Romania - United States of America BIT (1992) |
UNCITRAL |
PCA |
Investment: Ownership rights in Cinegrafia Română’s (CIRO Films) assets, real estate and business.
Summary: Claims arising out of the Government’s alleged failure to restitute assets in Cinegrafia Română (CIRO Films), a film company held by the claimants’ family members before its seizure by the communist regime in 1948. |
Ownership rights in Cinegrafia Română’s (CIRO Films) assets, real estate and business. |
Pending
|
Romania |
United States of America |
Tertiary: J - Information and communication |
59 - Motion picture, video and television programme production, sound recording and music publishing activities |
Hanotiau, B. - President
Schill, S. - Claimant
Malintoppi, L. - Respondent |
100.00 mln USD
|
Data not available
|
Data not available |
Pending |
Data not available |
Data not available |
None |
None |
None |
None |
None |
9 |
2020
|
Sukyas v. Romania (II)
|
Edward Sukyas v. Romania (II) (PCA Case No. 2020-54)
|
Canada - Romania BIT (2009) |
UNCITRAL |
PCA |
Investment: Ownership rights in Cinegrafia Română’s (CIRO Films) assets, real estate and business.
Summary: Claims arising out of the Government’s alleged failure to restitute assets in Cinegrafia Română (CIRO Films), a film company held by the claimants’ family members before its seizure by the communist regime in 1948. |
Ownership rights in Cinegrafia Română’s (CIRO Films) assets, real estate and business. |
Pending
|
Romania |
Canada |
Tertiary: J - Information and communication |
59 - Motion picture, video and television programme production, sound recording and music publishing activities |
Hanotiau, B. - President
Schill, S. - Claimant
Malintoppi, L. - Respondent |
100.00 mln USD
|
Data not available
|
Data not available |
Pending |
Data not available |
Data not available |
None |
None |
None |
None |
None |
10 |
2019
|
Petrochemical v. Romania
|
Petrochemical Holding GmbH v. Romania (ICSID Case No. ARB/19/21)
|
The Energy Charter Treaty (1994) |
ICSID |
ICSID |
Investment: 96.5% shareholding in RAFO S.A., an oil refinery in Onești, Romania.
Summary: |
96.5% shareholding in RAFO S.A., an oil refinery in Onești, Romania. |
Pending
|
Romania |
Austria |
Secondary: C - Manufacturing |
19 - Manufacture of coke and refined petroleum products |
Binnie, I. - President
Tawil, G. S. - Claimant
Neuberger, D. - Respondent |
Data not available
|
Data not available
|
Data not available |
Pending |
None |
None |
None |
None |
None |
None |
None |
11 |
2018
|
Alverley and Germen v. Romania
|
Alverley Investments Limited and Germen Properties Ltd v. Romania (ICSID Case No. ARB/18/30)
|
Cyprus - Romania BIT (1991) |
ICSID |
ICSID |
Investment: Indirect investments in Băneasa Investments SA, a joint venture to develop a shopping mall as well as commercial and residential buildings in Bucharest.
Summary: Claims arising out of the Government’s alleged sequestration order placed on a land plot used by Băneasa Investments SA for commercial real estate development, and subsequent proceedings to seize the land relating to corruption charges. |
Indirect investments in Băneasa Investments SA, a joint venture to develop a shopping mall as well as commercial and residential buildings in Bucharest. |
Decided in favour of State
|
Romania |
Cyprus |
Tertiary: F - Construction |
41 - Construction of buildings |
Hanotiau, B. - Claimant
Mayer, P. - Respondent
Greenwood, C. - President |
200.00 mln USD
|
Data not available
|
Indirect expropriation |
None - jurisdiction declined |
Decision on Preliminary Objections pursuant to ICSID Arbitration Rule 41(5) dated 1 August 2019
Award dated 16 March 2022 |
None |
None |
None |
None |
None |
None |
12 |
2018
|
LSG Building Solutions and others v. Romania
|
Anina Pro Invest Ltd, Core Value Capital GmbH, Core Value Investments GmbH & Co KG Gamma and others v. Romania (ICSID Case No. ARB/18/19)
|
The Energy Charter Treaty (1994) |
ICSID |
ICSID |
Investment: Interest in a photovoltaic power plant located in Romania’s Giurgiu region.
Summary: Claims arising out of certain changes to Romania’s incentive scheme for investments in the renewable energy sector. |
Interest in a photovoltaic power plant located in Romania’s Giurgiu region. |
Decided in favour of investor
|
Romania |
Austria
Cyprus
Germany
Netherlands |
Tertiary: D - Electricity, gas, steam and air conditioning supply |
35 - Electricity, gas, steam and air conditioning supply |
Fernández-Armesto, J. - President
Johnson, O. T. - Claimant
Dupuy, P.-M. - Respondent |
153.80 mln EUR (156.60 mln USD)
|
34.70 mln EUR (36.30 mln USD)
|
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Arbitrary, unreasonable and/or discriminatory measures
Other |
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Arbitrary, unreasonable and/or discriminatory measures
Other |
Decision on Jurisdiction, Liability and Principles of Reparation dated 11 July 2022
Award dated 20 February 2024 |
Dissenting Opinion of O. Thomas Johnson
Dissenting Opinion by O. Thomas Johnson |
ICSID annulment proceedings |
Pending (ICSID annulment proceedings) |
None |
None |
Ridings, P. - President
McLachlin, B. - Member
Wallgren-Lindholm, C. - Member |
13 |
2016
|
Nova Group v. Romania
|
Nova Group Investments, B.V. v. Romania (ICSID Case No. ARB/16/19)
|
Netherlands - Romania BIT (1994) |
ICSID |
ICSID |
Investment: Majority shareholding in Astra Asigurari, a local insurance company.
Summary: Claims arising out of the Government’s actions that allegedly led to the bankruptcy of an insurance company, Astra Asigurari, majority owned by the claimant. |
Majority shareholding in Astra Asigurari, a local insurance company. |
Decided in favour of State
|
Romania |
Netherlands |
Tertiary: K - Financial and insurance activities |
65 - Insurance, reinsurance and pension funding, except compulsory social security |
Kalicki, J. E. - President
Reichert, K. - Claimant
Clay, T. - Respondent |
342.60 mln EUR (369.40 mln USD)
|
Data not available
|
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims |
None - all claims dismissed at the merits stage |
Decision on an Objection to Jurisdiction dated 21 January 2021
Award dated 13 June 2024 |
None |
None |
None |
None |
None |
None |
14 |
2015
|
Fin.Co.Ge.Ro v. Romania
|
Fin.Co.Ge.Ro Spa v. Romania
|
Italy - Romania BIT (1990) |
UNCITRAL |
Data not available |
Investment: Concession contracts with local authorities to develop real estate projects in Constanța and Brăila, and an international airport in Galați.
Summary: Claims arising out of local authorities’ alleged failure to fulfill obligations arising out of concession contracts signed with the claimant for real estate development projects, preventing their effective implementation. |
Concession contracts with local authorities to develop real estate projects in Constanța and Brăila, and an international airport in Galați. |
Decided in favour of State
|
Romania |
Italy |
Tertiary: F - Construction |
41 - Construction of buildings |
Data not available |
327.00 mln EUR (362.60 mln USD)
|
Data not available
|
Data not available |
None - all claims dismissed at the merits stage |
Award dated 2019 |
None |
None |
None |
None |
None |
None |
15 |
2015
|
Gabriel Resources v. Romania
|
Gabriel Resources Ltd. and Gabriel Resources (Jersey) v. Romania (ICSID Case No. ARB/15/31)
|
Canada - Romania BIT (2009)
Romania - United Kingdom BIT (1995) |
ICSID |
ICSID |
Investment: Majority shareholding in Rosia Montana Gold Corporation, a Romanian mining company, co-owned with a State-owned entity.
Summary: Claims arising out of the allegedly discriminatory measures relating to the approval of an environmental impact assessment and the issuance of an environmental permit required to start exploitation of the claimant's mining project. |
Majority shareholding in Rosia Montana Gold Corporation, a Romanian mining company, co-owned with a State-owned entity. |
Decided in favour of State
|
Romania |
Canada
United Kingdom |
Primary: B - Mining and quarrying |
7 - Mining of metal ores |
Alexandrov, S. A. - Claimant (replaced)
Douglas, Z. - Respondent
Cheng, T. - President (replaced)
Grigera Naón, H. A. - Claimant
Tercier, P. - President |
3285.70 mln USD
|
Data not available
|
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Full protection and security, or similar
Indirect expropriation
National treatment
Umbrella clause
Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Full protection and security, or similar
Umbrella clause
National treatment |
None - all claims dismissed at the merits stage |
Award dated 8 March 2024 |
Note of Dissent by Horacio A. Grigera Naón |
ICSID annulment proceedings |
Pending (ICSID annulment proceedings) |
None |
None |
Zuleta, E. - President
Boo, L. - Member
Scherer, M. - Member |
16 |
2014
|
Alpiq v. Romania
|
Alpiq AG v. Romania (ICSID Case No. ARB/14/28)
|
Romania - Switzerland BIT (1993)
The Energy Charter Treaty (1994) |
ICSID |
ICSID |
Investment: Rights under two electricity generation and distribution contracts concluded between claimant's local subsidiaries and a Romanian State-owned entity.
Summary: Claims arising out of the Government's cancellation of two long-term energy delivery contracts concluded between claimant's local subsidiaries, Alpiq RomIndustries and Alpiq RomEnergie, and Romania’s state-owned electricity utility Hidroelectrica, after the latter was declared insolvent. |
Rights under two electricity generation and distribution contracts concluded between claimant's local subsidiaries and a Romanian State-owned entity. |
Decided in favour of State
|
Romania |
Switzerland |
Tertiary: D - Electricity, gas, steam and air conditioning supply |
35 - Electricity, gas, steam and air conditioning supply |
Sachs, K. - Claimant
Clodfelter, M. A. - Respondent
Silva Romero, E. - President |
450.00 mln USD
|
Data not available
|
Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims |
None - all claims dismissed at the merits stage |
Award dated 9 November 2018 |
None |
ICSID annulment proceedings |
Award/decision upheld (ICSID annulment proceedings) |
Decision on Annulment dated 11 August 2023 (ICSID annulment proceedings) |
None |
Landau, T. - President
Boo, L. - Member
Wallgren-Lindholm, C. - Member |
17 |
2014
|
Micula v. Romania (II)
|
Ioan Micula, Viorel Micula and others v. Romania (II) (ICSID Case No. ARB/14/29)
|
Romania - Sweden BIT (2002) |
ICSID |
ICSID |
Investment: Interests in Romanian beverage production enterprises.
Summary: Claims arising out of the Government’s alleged failure to enforce its tax laws and to prevent the growth of illegal alcohol sales, causing harm to the claimants’ spirits business; and the Government’s imposition of unilateral price increases related to the claimants’ mineral water business conducted under a long-term sale and purchase contract with a national company. |
Interests in Romanian beverage production enterprises. |
Decided in favour of State
|
Romania |
Sweden |
Secondary: C - Manufacturing |
11 - Manufacture of beverages |
McRae, D. M. - President
Pryles, M. C. - Claimant (replaced)
Crook, J. R. - Respondent
Beechey, J. - Claimant |
9121.80 mln RON (2112.80 mln USD)
|
Data not available
|
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Full protection and security, or similar
Arbitrary, unreasonable and/or discriminatory measures
Umbrella clause |
None - all claims dismissed at the merits stage |
Award dated 5 March 2020 |
None |
ICSID annulment proceedings |
Award/decision upheld (ICSID annulment proceedings) |
Decision on Annulment dated 4 January 2022 (ICSID annulment proceedings) |
None |
Zuleta, E. - President
Jana Linetzky, A. - Member
Shin, H.-T. - Member |
18 |
2012
|
Gavazzi v. Romania
|
Marco Gavazzi and Stefano Gavazzi v. Romania (ICSID Case No. ARB/12/25)
|
Italy - Romania BIT (1990) |
ICSID |
ICSID |
Investment: Majority shareholding in a local steel manufacturing enterprise under a privatisation agreement concluded with the Government.
Summary: Claims arising out of a series of measures by the respondent allegedly in breach of its obligations under certain privatisation agreement concerning a steel plant in which the claimants had invested, leading to its liquidation. |
Majority shareholding in a local steel manufacturing enterprise under a privatisation agreement concluded with the Government. |
Decided in favour of investor
|
Romania |
Italy |
Secondary: C - Manufacturing |
24 - Manufacture of basic metals |
van Houtte, H. - President
Veeder, V. V. - Claimant
Rubino-Sammartano, M. - Respondent |
30.00 mln USD
|
Data not available
|
Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims |
Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims |
Decision on Jurisdiction, Admissibility and Liability dated 21 April 2015
Award dated 18 April 2017
Decision on Rectification dated 13 July 2017 |
Dissenting Opinion by Mauro Rubino-Sammartano
Dissenting Opinion with Regard to Quantum by Mauro Rubino-Sammartano
Dissenting Opinion on Rectification by Mauro Rubino-Sammartano |
None |
None |
None |
None |
None |
19 |
2010
|
Awdi v. Romania
|
Hassan Awdi, Enterprise Business Consultants, Inc. and Alfa El Corporation v. Romania (ICSID Case No. ARB/10/13)
|
Romania - United States of America BIT (1992) |
ICSID |
ICSID |
Investment: Majority shareholding in a press distribution company that held a concession to operate kiosks across Romania; ownership of a historical building in the centre of Bucharest serving as boutique hotel and restaurant.
Summary: Claims arising out of the Government's alleged failure to protect claimants' press distribution and boutique hotel investments, following a decision issued by the Romanian Constitutional Court declaring a law that guaranteed claimants' investment as unconstitutional. |
Majority shareholding in a press distribution company that held a concession to operate kiosks across Romania; ownership of a historical building in the centre of Bucharest serving as boutique hotel and restaurant. |
Decided in favour of investor
|
Romania |
United States of America |
Tertiary: J - Information and communication
Tertiary: L - Real estate activities |
58 - Publishing activities
68 - Real estate activities |
Bernardini, P. - President
Gharavi, H. G. - Claimant
Dolzer, R. - Respondent |
Data not available
|
7.70 mln EUR (8.60 mln USD)
|
Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Full protection and security, or similar
Umbrella clause
Arbitrary, unreasonable and/or discriminatory measures
Other |
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims |
Decision on the Admissibility of the Respondent's Third Objection to Jurisdiction and Admissibility of Claimants' Claims dated 26 July 2013
Award dated 2 March 2015 |
None |
None |
None |
None |
None |
None |
20 |
2010
|
Dede v. Romania
|
Ömer Dede and Serdar Elhüseyni v. Romania (ICSID Case No. ARB/10/22)
|
Romania - Turkey BIT (1991) |
ICSID |
ICSID |
Investment: Majority shareholding in SC IMUM SA, an agricultural machinery and equipment enterprise, through a share purchase agreement concluded with a Romanian agency; financial contributions into said company; payment of penalties as a precondition to acquiring shares in that company.
Summary: Claims arising out of the decision by Romania's privatisation agency AVAS to take possession of claimant's shares in an agricultural machinery manufacturer in the south-eastern city of Medgidia. |
Majority shareholding in SC IMUM SA, an agricultural machinery and equipment enterprise, through a share purchase agreement concluded with a Romanian agency; financial contributions into said company; payment of penalties as a precondition to acquiring shares in that company. |
Decided in favour of State
|
Romania |
Türkiye |
Secondary: C - Manufacturing |
28 - Manufacture of machinery and equipment n.e.c. |
Park, W. W. - President
Herzog, N. - Claimant
Stern, B. - Respondent |
2.00 mln EUR (2.60 mln USD)
|
Data not available
|
Indirect expropriation |
None - jurisdiction declined |
Award dated 5 September 2013 |
None |
None |
None |
None |
None |
None |
21 |
2007
|
S&T Oil v. Romania
|
S&T Oil Equipment & Machinery Ltd. v. Romania (ICSID Case No. ARB/07/13)
|
Romania - United States of America BIT (1992) |
ICSID |
ICSID |
Investment: Shareholding and contractual rights under an agreement concluded between the claimant and Romania's privatization authority to take over the privatization of Nitramonia S.A., a large ammonia manufacturing and processing plant.
Summary: Claims arising out of contractual disagreements between the parties and the Government's termination of certain privatization agreement concluded with the investor, followed by the cancellation of the company's shareholdings, the taking of its Romanian assets, and the re-privatization of the assets by putting them out to tender. |
Shareholding and contractual rights under an agreement concluded between the claimant and Romania's privatization authority to take over the privatization of Nitramonia S.A., a large ammonia manufacturing and processing plant. |
Discontinued
|
Romania |
United States of America |
Secondary: C - Manufacturing |
20 - Manufacture of chemicals and chemical products |
van Houtte, H. - President
Grigera Naón, H. A. - Claimant
Savage, J. - Claimant (replaced)
Stern, B. - Respondent |
140.00 mln EUR (179.40 mln USD)
|
Data not available
|
Indirect expropriation |
Not applicable - settled or discontinued before decision on liability |
Order taking note of the discontinuance of the proceeding issued by the Tribunal dated 16 July 2010, pursuant to Regulation 14(3)(d) of the ICSID Administrative and Financial Regulations |
None |
None |
None |
None |
None |
None |
22 |
2006
|
Rompetrol v. Romania
|
The Rompetrol Group N.V. v. Romania (ICSID Case No. ARB/06/3)
|
Netherlands - Romania BIT (1994) |
ICSID |
ICSID |
Investment: Controlling shareholding in Rompetrol Rafinare S.A., a privatised Romanian company which owned and operated an oil refinery and petrochemical complex.
Summary: Claims arising out of investigations undertaken by Romanian anti-corruption and criminal prosecution authorities relating to the privatisation of an oil refinery company, shortly after the sale of the controlling shares to the claimant, allegedly including the arrest, detention, travel-ban and wire-tapping of key company's executives. |
Controlling shareholding in Rompetrol Rafinare S.A., a privatised Romanian company which owned and operated an oil refinery and petrochemical complex. |
Decided in favour of neither party (liability found but no damages awarded)
|
Romania |
Netherlands |
Secondary: C - Manufacturing |
19 - Manufacture of coke and refined petroleum products |
Berman, F. - President
Donovan, D. - Claimant
Lalonde, M. - Respondent |
100.00 mln USD
|
0.00 mln USD
|
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Full protection and security, or similar
Arbitrary, unreasonable and/or discriminatory measures
Other |
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Full protection and security, or similar
Arbitrary, unreasonable and/or discriminatory measures
Other |
Decision on Respondent’s Preliminary Objections on Jurisdiction and Admissibility dated 18 April 2008
Award dated 6 May 2013 |
None |
None |
None |
None |
None |
None |
23 |
2006
|
Roussalis v. Romania
|
Spyridon Roussalis v. Romania (ICSID Case No. ARB/06/1)
|
Greece - Romania BIT (1997) |
ICSID |
ICSID |
Investment: 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.
Summary: 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. |
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. |
Decided in favour of State
|
Romania |
Greece |
Tertiary: H - Transportation and storage |
52 - Warehousing and support activities for transportation |
Hanotiau, B. - President
Giardina, A. - Claimant
Reisman, W. M. - Respondent |
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
Other |
None - all claims dismissed at the merits stage |
Award dated 7 December 2011 |
Declaration of W. Michael Reisman (Award) |
None |
None |
None |
None |
None |
24 |
2005
|
EDF v. Romania
|
EDF (Services) Limited v. Republic of Romania (ICSID Case No. ARB/05/13)
|
Romania - United Kingdom BIT (1995) |
ICSID |
ICSID |
Investment: Interests in two joint venture companies with Romanian entities owned by the Romanian Government, engaged in providing duty-free services.
Summary: Claims arising out of the alleged arbitrary taking of a concession to provide duty free and other retail services at several Romanian airports and on board airplanes. |
Interests in two joint venture companies with Romanian entities owned by the Romanian Government, engaged in providing duty-free services. |
Decided in favour of State
|
Romania |
United Kingdom |
Tertiary: G - Wholesale and retail trade; repair of motor vehicles and motorcycles |
47 - Retail trade, except of motor vehicles and motorcycles |
Bernardini, P. - President
Rovine, A. W. - Claimant
Derains, Y. - Respondent |
132.50 mln USD
|
Data not available
|
Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Umbrella clause
Arbitrary, unreasonable and/or discriminatory measures |
None - all claims dismissed at the merits stage |
Award dated 8 October 2009 |
Dissent regarding costs of Mr. Arthur W. Rovine (Award) |
None |
None |
None |
None |
None |
25 |
2005
|
Micula v. Romania (I)
|
Ioan Micula, Viorel Micula and others v. Romania (I) (ICSID Case No. ARB/05/20)
|
Romania - Sweden BIT (2002) |
ICSID |
ICSID |
Investment: Contributions of over EUR 200 million through the purchase or importation of machinery, raw materials, lands, buildings, equipment and means of transportation for food production facilities in disfavored regions of Romania.
Summary: Claims arising out of the Government's introduction of a series of investment incentives for the development of certain disfavoured regions of Romania and from the subsequent partial withdrawal or amendment of those incentives, in the context of Romania's accession to the European Union. |
Contributions of over EUR 200 million through the purchase or importation of machinery, raw materials, lands, buildings, equipment and means of transportation for food production facilities in disfavored regions of Romania. |
Decided in favour of investor
|
Romania |
Sweden |
Secondary: C - Manufacturing |
10 - Manufacture of food products |
Lévy, L. - President
Alexandrov, S. A. - Claimant
Abi-Saab, G. - Respondent
Ehlermann, C.-D. - Respondent (replaced) |
2698.00 mln RON (832.90 mln USD)
|
376.40 mln RON (116.20 mln USD)
|
Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Umbrella clause
Arbitrary, unreasonable and/or discriminatory measures |
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims |
Decision on Jurisdiction and Admissibility dated 24 September 2008
Final Award dated 11 December 2013 |
Separate Opinion of Professor Georges Abi-Saab (Decision on Jurisdiction and Admissibility) |
ICSID annulment proceedings |
Award/decision upheld (ICSID annulment proceedings) |
Decision on Annulment dated 26 February 2016 (ICSID annulment proceedings) |
None |
von Wobeser, C. - President
Cremades, B. M. - Member
Yusuf, A. A. - Member |
26 |
2002
|
Pol Am Pack v. Romania
|
Pol Am Pack S.A. (Poland) v. Romania
|
Poland - Romania BIT (1994) |
Ad hoc |
PCA |
Investment: Majority shareholding (90 per cent) in SC AMEP American Packaging SA Tecuci.
Summary: |
Majority shareholding (90 per cent) in SC AMEP American Packaging SA Tecuci. |
Settled
|
Romania |
Poland |
Secondary: C - Manufacturing |
25 - Manufacture of fabricated metal products, except machinery and equipment |
Hanotiau, B. - President
Jarvin, S. - Claimant
Schneider, M. - Respondent
Horvath, G. J. - Claimant (replaced)
Porcasi, V. - Respondent (replaced) |
10.00 mln USD
|
Data not available
|
Data not available |
Not applicable - settled or discontinued before decision on liability |
Data not available |
Data not available |
None |
None |
None |
None |
None |
27 |
2001
|
Noble Ventures v. Romania
|
Noble Ventures, Inc. v. Romania (ICSID Case No. ARB/01/11)
|
Romania - United States of America BIT (1992) |
ICSID |
ICSID |
Investment: Share purchase agreement entered into with the Romanian State Ownership Fund.
Summary: Claims arising out of a privatization agreement concerning the acquisition, management, operation and disposition of a substantial steel mill with associated and other assets located in Romania. |
Share purchase agreement entered into with the Romanian State Ownership Fund. |
Decided in favour of State
|
Romania |
United States of America |
Tertiary: K - Financial and insurance activities |
64 - Financial service activities, except insurance and pension funding |
Böckstiegel, K.-H. - President
Lever, J. - Claimant
Dupuy, P.-M. - Respondent
Porcasi, V. - Respondent (replaced) |
143.50 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
Umbrella clause |
None - all claims dismissed at the merits stage |
Award dated 12 October 2005 |
None |
None |
None |
None |
None |
None |