Investor-state dispute settlement (ISDS) has historically been seen as a way of promoting foreign investment flows, depoliticizing disputes between investors and states.
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Romania Fights $2.9M Sanctions In Investor $356M Award Suit
Law360 (July 28, 2021, 6:47 PM EDT) The Romanian government has urged a D.C. federal judge to deny a $2.9 million sanction request by Viorel and Ioan Micula, two Swedish food investors who say the country violated contempt orders by not following post-judgment discovery obligations.
The International Centre for Settlement of Investment Disputes had handed the Micula brothers a $250 million award in 2013, finding that Romania violated a bilateral investment treaty with Sweden by revoking certain economic incentives, which the tribunal said harmed food and drink facilities that the Miculas built in a remote, impoverished region of Romania. The award has since grown to $356 million because.