IUS IUVENTUTIS

  Hilaturas Miel, S.L.(claimant) a yarn-producer located in Spain entered into a procurement process in the ”Oil for Food Programme” (OFFP), adopted through the UN Security Council. After being awarded the Contract O.C. 702.800, claimant alleged that the State Company for Shopping Centers (owned entirely by the state of Iraq) did not provide the means of inspection and acceptance of the yarn, failing to fulfil its obligation under the contract. Some shipments were successfully delivered, however after 19 March 2003, following the start of the Iraq War, Hilaturas made several shipments that were not inspected and accepted under the terms of the contract. As such, claimant requested € 398,326 in damages. On the basis of the doctrine of impossibility the U.S Court ruled in favour of the Republic of Iraq.                                                 ...

  In a dispute arising in the context of Romania’s accession to the EU, the Romanian Government introduced and subsequently revoked an incentive economic policy, through Emergency Government Ordinance 24/1998. The claimants, represented by two individual persons and three companies directly or indirectly owned by them were prejudiced by the sudden change in policy and by the breach in a bilateral Agreement on Promotion and Reciprocal Protection of Investments between Romania and Sweden. The arbitral tribunal’s award compensated the claimants in the sum of 376,433,229 RON as damages.                                                                                                                     ...