ICSID Committee Rejects Romania's Application To Annul Award For Investors
(March 4, 2016, 12:18 PM EST) -- PARIS — A decision by an ad hoc committee for the International Centre for Settlement of Investment Disputes (ICSID) was released March 4 in which it rejected an application filed by Romania to annul a $185,530,618 award that was issued in favor of several investors (Ioan Micula, et al. v. Romania, No. ARB/05/20, ICSID).
(Decision on annulment available. Document #05-160322-018X.)
In October 2005, a request for arbitration was registered with ICSID from Ioan Micula, Viorel Micula, S.C. European Food S.A., S.C. Starmill S.R.L. and S.C. Multipack...