Romania: Arbitration & Dispute Resolution

An ICSID ad hoc committee unanimously dismissed Romania's application to annul an arbitration award in favor of LSG Building Solutions GmbH and nine other investors, rejecting Romania's arguments concerning jurisdiction, EU law, multiparty claims, and treaty interpretation. The committee emphasized that annulment is not an appeal and cannot be used to reconsider a tribunal's legal conclusions, only to address fundamental procedural defects.

În conformitate cu preambulul Deciziei Colegiului de Conducere al Camerei de Comerţ şi Industrie a României (C.C.I.R."), aceste modificări survin ca urmare a intrării în vigoare a noului Cod de Procedură Civilă.