Arbitral Digest

Matter

Nova Group Investments, B.V. v. Romania (ICSID Case No. ARB/16/19)

ICSID arbitration by Nova Group Investments against Romania concerned the tribunal’s jurisdictional objections and the investment dispute.

Investor-state arbitration
Jurisdiction and arbitration agreements

Case no.: ARB/16/19

13 June 2024Arbitration
13 June 2024Arbitration
Award
International Centre for Settlement of Investment Disputes
Decision summary
The Tribunal unanimously denied Romania's jurisdictional objections except for one ratione materiae objection, which it granted. It denied Nova's claims that Romania violated its substantive Treaty obligations and denied Nova's claims for damages. It denied both parties' requests for an award of costs.
Participants
Nova Group Investments, B.V.
Romania
International Centre for Settlement of Investment Disputes
Arbitrator
Thomas Clay
Arbitrator
Klaus Reichert
Authorities cited
3
- Netherlands-Romania bilateral investment treaty (Agreement on Encouragement and Reciprocal Protection of Investments Between the Government of the Kingdom of the Netherlands and the Government of Romania)
  treaty
- ICSID Convention (Convention on the Settlement of Investment Disputes between States and Nationals of Other States)
  treaty
- Vienna Convention on the Law of Treaties
  treaty
Source