ALERTS: STATE AID - EUROPEAN UNION - SWEDEN - ROMANIA - APPLICABLE LAW - ARBITRATION - COMPETENCE

Competence: Advocate General Szpunar considers that, in the case of the arbitration in favour of Swedish investors in Romania, Union law was applicable to the measure and that the European Commission was competent to examine the compensation awarded in the light of State aid law (European Food, Starmill, Multipack)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. On 1 July 2021, Advocate General Maciej Szpunar delivered his conclusions in the Micula (C-638/19), named after two brothers, Swedish investors residing in Romania, who had been awarded damages by the International Centre for Settlement of Investment Disputes (ICSID), by way of an arbitral award rendered on 11 December 2013, against Romania for an amount of some EUR 82 million, on the grounds that Romania had failed to ensure fair and equitable treatment of the investments at issue, which constituted a breach by Romania of Article 2(3) of the 2002 bilateral investment treaty (BIT) between Sweden and Romania for the promotion and mutual protection of

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  • L’actu-concurrence (Paris)

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Alain Ronzano, Competence: Advocate General Szpunar considers that, in the case of the arbitration in favour of Swedish investors in Romania, Union law was applicable to the measure and that the European Commission was competent to examine the compensation awarded in the light of State aid law (European Food, Starmill, Multipack), 1 July 2021, Concurrences N° 2-2021, Art. N° 101412, www.concurrences.com

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