Order of discontinuance of proceedings closes third ICSID arbitration case brought against Romania

The arbitral tribunal of the International Center for Settlement of Investment Disputes (ICSID) decided to discontinue the proceedings in the case S&T Oil Equipment and Machinery Ltd. v. Romania in which the claimant sought compensations worth more than USD 150,000,000. It is the third favorable outcome obtained by the lawyers in Ţuca Zbârcea & Asociaţii in front of ICSID, in Washington D.C.

In May 2007, S&T Oil Equipment and Machinery submitted its request for arbitration against Romania alle