Theme: Executive Meeting from 08.03.2006
The Government has decided to supplement the budget of the Ministry of Public Finances with the sum of 12, 200 millions RON
The sum will be directed towards the representation of Romania before the Court of International Arbitration of the International Centre for Settlement of Investment Disputes, with headquarters in Washington D.C.
The Ministry of Finances is mandated to represent Romania at the Court of International Arbitration. Currently, four lawsuits are to be judged by the Court of Arbitration, and the representation expenditure is estimated to the sums of : 2 millions USD, 400 000 EUR respectively, as well as 475.000 EUR, 875.000 EUR respectively.
The two cases, for which there have been already nominated the law firms which will represent the Romanian state's interests, refer to a lawsuit filed by EDF firm, the former operator of duty - free shops on Henri Coanda airport, and the one filed by European Drinks group.
Meanwhile, MFP is to issue representation mandates in other two lawsuits - Rompetrol and Spyridon Roussalis - in which the Romanian state is litigant.
For the representation to ICSID, the Ministry of Finances has selected seven law firms, further to auction, and among the basic criteria there were the following: the existence of a partnership with an international law firm which should have experience at ICSID and the lowest level of fees. The services of these law firms will be used by all state institutions which have litigations at ICSID and the fees will be paid by the Ministry of Public Finances.
The Ministry of Finances is mandated to represent Romania at the Court of International Arbitration. Currently, four lawsuits are to be judged by the Court of Arbitration, and the representation expenditure is estimated to the sums of : 2 millions USD, 400 000 EUR respectively, as well as 475.000 EUR, 875.000 EUR respectively.
The two cases, for which there have been already nominated the law firms which will represent the Romanian state's interests, refer to a lawsuit filed by EDF firm, the former operator of duty - free shops on Henri Coanda airport, and the one filed by European Drinks group.
Meanwhile, MFP is to issue representation mandates in other two lawsuits - Rompetrol and Spyridon Roussalis - in which the Romanian state is litigant.
For the representation to ICSID, the Ministry of Finances has selected seven law firms, further to auction, and among the basic criteria there were the following: the existence of a partnership with an international law firm which should have experience at ICSID and the lowest level of fees. The services of these law firms will be used by all state institutions which have litigations at ICSID and the fees will be paid by the Ministry of Public Finances.
