ISDS Case Map
Romania
Canadian company Gabriel Resources, the majority shareholder of the developer of the blocked gold mining project in the Apuseni Mountains, seeks to raise up to USD 4.75 mln from investors with a private placement.
A tribunal operating under the World Bank has ruled in favor of ten companies that initiated arbitration with the argument that Romania violated the Energy Charter Treaty by lowering incentives for their solar power plants.
Canada's Gabriel Resources, which holds a licence for the Rosia Montana gold and silver mine, said that it aims to raise $5.6 million from investors, which it will use mainly to finance the costs of an arbitration claim against Romania.
The ICSID arbitral tribunal on March 16 this year admitted it had no jurisdiction concerning the applicant Germen and rejected as inadmissible Alverley's application.
When Brexit meets ISDS meets the ECJ, happiness ensues.
The European Court of Justice backed the EU bloc's authority to challenge arbitration payments in a dispute between a pair of beverage moguls and the Romanian government.
A committee attached to the Washington International Court (ICSID) definitively rejected the €1.8 bln claims of Romanian-Swedish investors Ioan and Viorel Micula.
The court accepted Roşia Montana's inclusion on the UNESCO heritage list as a piece of evidence, as an argument for the "bad faith of the Romanian state" invoked by the Canadian company.
Kelag, one of the most important energy holding companies in Austria, referred Romania to the World Bank’s ICSID, accusing the country of violating the so-called Energy Charter Treaty.
The UNESCO application and inscription are fundamentally at odds with Romania's obligations under its investment treaties in relation to Gabriel’s gold and silver project.
