Romania Misreads ECJ Ruling In Arbitral Row, Investors Say
By Caroline Simson (April 27, 2022, 5:36 PM EDT) -- Two Swedish food industry investors on Tuesday urged a D.C. federal judge not to allow Romania to escape a ruling enforcing a $356 million arbitral award, arguing that the country is overstating the importance of a decision from Europe's highest court invalidating the underlying arbitration agreement.
Brothers Ioan and Viorel Micula told the court in a response to Romania's motion for relief from judgment that Romania "could not be more incorrect" about the impact of the ruling earlier this year from the European Court of Justice on U.S. District Judge Amit P. Mehta's 2019 decision, in which he rejected Bucharest's arguments...
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