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Disputes in Romania are settled in court in the vast majority of cases, under procedures regulated mainly by the new Civil Procedure Code ('the CPC').
By Alina Nicolae
The Romanian State scored a major arbitration victory before the International Center for Settlement of Investment Disputes (ICSID) within the World Bank in Washington. Noble Ventures, Inc. submitted its claim under the bilateral investment treaty between the United States and Romania to arbitration under the ICSID Convention in August 2001. Noble Ventures` claimed as much as USD 353 million in damages from Romania, challenging Romania’s treatment of Noble Ventures and its investment in Combin