CIS/CEE series - (Romania, August 2014) Micula Bros & ors. v. Romania (ICSID Case ARB/05/20)

The European Commission's DG for Competition has issued an injunction to prevent Romania from honouring a  US$250 million award rendered last year by an ICSID tribunal.  The Commission argued that payment of the ICSID award would constitute illegal state aid under EU law and render the award unenforceable within the EU.