Suciu Popa wins for Enel the largest arbitration on the Romanian market
27 July 2016
Suciu Popa is proud to announce that it secured a fully successful award for Enel Investment Holding in a highly complex ICC arbitration arising out of a privatization contract, involving claims in excess of USD 1.2 billion brought by the Romanian government.
“This is a clear and strong result for Enel, all of the claims having been fully dismissed” commented Luminita Popa, lead counsel in the case. “The complexity was generated not only by the high value at stake – probably the biggest international dispute involving Romania until present days – but also by the vast span of legal matters addressed.”
The arbitration started in 2013, with the Romanian government alleging that Enel did not respect provisions of the privatization contract for several subsidiaries of the company, and involved more than 23 distinct claims.