ALERTS: STATE AID - EUROPEAN UNION - ROMANIA - ARBITRATION - INCOMPATIBLE STATE AID - OPERATIVE EVENT - COMPENSATION

Arbitration: The Court of Justice of the European Union, drawing a clear distinction between the event giving rise to damage and the right to compensation, and noting that the compensation awarded by the arbitration award was granted after Romania’s accession, held that Union law was applicable to that measure and that the European Commission was competent to examine it in the light of State aid law, and consequently annulled the judgment of the General Court of the European Union denying the Commission any competence (Micula)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. On January 25, 2022, the Court of Justice of the European Union issued its judgment in the Micula case (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) on December 11, 2013, against Romania for an amount of some 82 million euros, on the grounds that Romania had failed to ensure fair and equitable treatment of the investments in question, which constituted a violation by that State of Article 2, § 3, of the bilateral investment treaty (BIT) concluded in 2002 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, Arbitration: The Court of Justice of the European Union, drawing a clear distinction between the event giving rise to damage and the right to compensation, and noting that the compensation awarded by the arbitration award was granted after Romania’s accession, held that Union law was applicable to that measure and that the European Commission was competent to examine it in the light of State aid law, and consequently annulled the judgment of the General Court of the European Union denying the Commission any competence (Micula), 25 January 2022, Concurrences N° 2-2022, Art. N° 104905, www.concurrences.com

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