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Leaua Damcali Deaconu Paunescu Successful for Romania in International Arbitration

Leaua Damcali Deaconu Paunescu Successful for Romania in International Arbitration

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Leaua Damcali Deaconu Paunescu, working with Geneva-based Lalive, has successfully represented Romania in international arbitration proceedings against claims amounting to RON 9 billion.

According to LDDP, “a decision issued on January 4, 2022, by the Ad Hoc Committee on Cancellation, set up under the auspices of the International Center for the Settlement of Investment Disputes by the World Bank, rejected the application for annulment of [a previous] arbitration award from March 5, 2020.” In turn, the 2020 award “rejected the claims against Romania in the amount of over RON 9 billion, formulated by Ioan and Viorel Micula and by several Romanian companies associated with them, including Scandic Distilleries” (as reported by CEE Legal Matters on March 11, 2020).

“The decision of the cancellation committee finally closes the arbitration proceedings initiated by the [plaintiffs] in 2014,” the firm informed. "During the arbitration, [they] argued that Romania had violated its international obligations ... failing to properly enforce the laws on the taxation of spirits and by adopting a new price regime for mineral water.”

LDDP reported that the arbitral tribunal rejected the applicants' claim and found that "Romania has made a serious and visible effort to enforce its alcohol tax laws,” and that Romania "has shown that it has a complex mechanism for enforcing its laws, a cost-effective strategy, and an execution structure both at the level of the individual household and at the level of the industrial producer.” 

LDDP’s team included Managing Partners Crenguta Leaua and Stefan Deaconu, Department Managing Partner Gheorghe Matei, Senior Partner Marius Grigorescu, Managing Associate Corina Tanase, and Senior Associate Raluca Popa.

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Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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