EU Takes Romania To Court Over $105M In Unrecovered Aid

Law360 (December 7, 2018, 7:22 PM EST) -- The European Union’s antitrust watchdog is taking Romania to court over the country's failure to fully claw back €92 million ($104.8 million) it paid to two Swedish investors in violation of EU state aid rules, the agency said Friday.

The EU's concerns stem from an arbitration award Romania paid over an investment deal the country dropped out of in order to join the European Union. The country was asked to pull out of the deal because it unfairly favored certain investors, but an arbitration award it later paid to those investors essentially provided the same benefit, the European Commission argued.

“[M]ore than...

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