ISDS Case Map
Romania
Canadian company Gabriel Resources filed an appeal against the decision of the Washington Arbitration Court by which Romania won the case in the Roșia Montană gold mining project, requesting its annulment.
Dispute settlements in international investment law protect the rights of companies. However, they suppress the voice of local communities, as Stephanie Triefus found in her PhD research.
Romania won the litigation case filed by the owner of the bankrupt insurer Astra Asigurari, Dutch-based Nova Group Investments controlled by the Adamescu family, according to a note published by the Romanian Ministry of Finance.
Eurohold Bulgaria AD and Euroins Insurance Group AD said they have officially filed a request for arbitration against the government of Romania at the International Centre for Settlement of Investment Disputes in Washington, DC.
Earlier this year, ICSID dismissed the claims of Gabriel Resources in the Roșia Montană case. The court also obliged the companies to pay Romania the costs of the lawsuit, as well as interest.
Romania has placed a lien on over 80% of the shareholding held by Gabriel Resources in Roșia Montană Gold Corporation to recover its $10 million arbitration costs incurred over a 9-year process in Washington.
The Romanian government has won a years long legal dispute with a Canadian mining company seeking damages over failed plans to open a gold and silver mine in the Eastern European country.
The tribuna has extended the period to draw up and sign the award for a further 60 days. Accordingly, the Tribunal must issue the award on or before March 12, 2024.
The final amount requested by Gabriel through interest recalculation has doubled, reaching USD 6.5 billion.
The EU has agreed a trade deal with Kenya, marking an important step in Brussels’ efforts to boost economic relations with Africa.
