Summary

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Case report (free download)

Case Report by Devika Agarwal, editor Ignacio Torterola

Summary

In a Decision on Annulment issued on 26 February 2016, an International Centre for Settlement of Investment Disputes ("ICSID") Ad Hoc Committee ("Committee") unanimously rejected Romania's application for annulment of the Award rendered on 11 December 2013 under the Agreement Between the Government of the Kingdom of Sweden and the Government of Romania ("Sweden-Romania BIT") by an ICSID Tribunal. The Committee found that none of the grounds for annulment of Article 52 of the ICSID Convention invoked by Romania had been met, namely that (1) the Tribunal manifestly exceeded its powers, (2) there was a serious departure from a fundamental rule of procedure, and (3) the award failed to state the reasons upon which it was based.

Main Issues

Annulment proceeding under the ICSID Convention; manifest excess of powers; serious departure from a fundamental rule of procedure; failure to state reasons; narrow scope of grounds for annulment.

Ioan Micula, Viorel Micula and others v. Romania (ICSID Case No. ARB/05/20) - Annulment Proceeding - 26 February 2016

Case report provided by International Arbitration Case Law (IACL)

See also:

• Micula & Ors v Romania 2020 UKSC 5 - 19 February 2020 + TDM IACL Case Report
• Micula & Ors v Romania (Rev 1) [2018] EWCA Civ 1801 (27 July 2018) + TDM IACL Case Report
• Micula and Ors v Romania and Anor 2017 EWHC 31 Comm - Judgment - 20 January 2017
  + TDM IACL Case Report
• Ioan Micula, Viorel Micula and others v. Romania (ICSID Case No. ARB/05/20) - Annulment Proceeding - 26 February 2016 + TDM IACL Case Report