Yet another successful award for Enel in ICC arbitration secured by Suciu Popa
21 October 2019
Suciu Popa secured yet another successful award for the Italian global energy company Enel in an ICC arbitration against the Romanian State, in Paris, arising out of a privatization contract, with value in excess of EUR 130 million.
SAPE, a management company for state-owned stakes in energy companies coordinated by the Ministry of Energy, claimed the distribution of the profits retained until 2017 pertaining to Enel Distributie Muntenia and Enel Energie Muntenia. In its ruling, the Arbitral Tribunal dismissed entirely all SAPE’s claims.
“Enel is one of the clients we have successfully represented in numerous disputes, both before the ICC courts and those of the common law. Numerous international publications (GAR, Legal 500, Benchmark Litigation Europe etc.) have highlighted in recent years the outstanding track record of our litigation and arbitration mandates, excellent customer feedback, and the specificity of our dispute resolution practice: a truly international practice, dedicated to complex, sophisticated mandates”, said Luminita Popa, Managing Partner Suciu Popa and lead counsel in the case.