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2005
Micula v. Romania (I) Ioan Micula, Viorel Micula and others v. Romania (I) (ICSID Case No. ARB/05/20)
Nationality of the parties
Romania
Sweden
Summary of matters at issue
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.
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.
Economic sector and subsector
Secondary: C - Manufacturing
10 - Manufacture of food products
Arbitral rules and administering institution
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Composition of tribunal
Lévy, L.
Alexandrov, S. A.
Abi-Saab, G.
Ehlermann, C.-D. (replaced)
Status/Outcome of original proceedings
Decided in favour of investor
Amount of compensation
2698.00 mln RON (832.90 mln USD)
376.40 mln RON (116.20 mln USD)
IIA breaches alleged/found
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
Follow-on proceedings
ICSID annulment proceedings
ICSID annulment proceedings
Award/decision upheld
von Wobeser, C. (President)

Cremades, B. M. (Member)

Yusuf, A. A. (Member)
Link to Italaw's case page