Romania won the international arbitrage case with Swiss energy group Alpiq at the International Centre for Settlement of Investment Disputes (ICSID) in Washington.

Alpiq was asking for USD 450 million worth of compensations from the Romanian state for alleged breaches of its rights in the insolvency process of local power producer Hidroelectrica.

Alpiq was one of the energy traders that had long-term contracts with Hidroelectrica, which were canceled when the energy producer entered insolvency in 2012.

The arbitrage court ruled that Romania respected its obligations and didn’t break Alpiq’s rights.

The Romanian state was represented in this international arbitrage procedure by local law firms Zamfirescu Racoti & Partners (ZRP) and Tanasescu Gavrila & Asociatii (TGA).

Romania’s Hidroelectrica wins trial with trader Alpiq

(Photo: Adobe Stock)

editor@romania-insider.com