The EU Court of Justice finds that the General Court erred in law when finding the Commission incompetent to examine, in the light of the law on State aid, the compensation paid to Swedish investors by Romania in the implementation of an arbitral award (Micula)

The General Court erred in law in finding that the Commission lacked competence to examine, in the light of the law on State aid, the compensation paid to Swedish investors by Romania in implementation of an arbitral award* While that award had upheld the argument of those investors that that Member State had unlawfully repealed a tax incentives scheme before its accession to the European Union, the aid measure referred to by the Commission was nevertheless granted after that accession On 29 May 2002, the Kingdom of Sweden and Romania concluded a bilateral investment treaty on the promotion and reciprocal protection of investments (‘the BIT’), Article 2(3) of which provides that each contracting party would at all times ensure fair and equitable treatment of the investments by