ICSID Tribunal Dismisses Claims Against Romania In Dispute Over Alcohol Taxes

(March 19, 2020, 11:39 AM EDT) -- WASHINGTON, D.C. — Two Swedish men and their companies failed to show that they were denied fair and equitable treatment or that they were denied full protection and security after their alcohol businesses in Romania allegedly suffered when taxes were increased, the black market grew and Romania engaged in enforcement actions in which the men and businesses did not agree, an International Centre for Settlement of Investment Disputes tribunal ruled in a March 5 award, adding that the tribunal lacks jurisdiction over another claim by the same parties concerning a mineral water contract (Mr. Ioan Micula, et al. and Romania, No. ARB/14/29, ICSID)....

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