Micula Award Enforcement Stay Can Be Appealed, Judge Says

Law360, New York (June 15, 2017, 5:55 PM EDT) -- An English High Court justice on Thursday allowed two Swedish food investors to appeal his decision to pause enforcement in England of their arbitral award against Romania, which was issued following the revocation of certain economic incentives and is worth approximately £173 million, but declined to order Romania to post security.

Brothers Ioan and Viorel Micula had obtained the award from an International Centre for Settlement of Investment Disputes tribunal in December 2013 after it determined that Romania had violated a bilateral investment treaty with Sweden...
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