IUS IUVENTUTIS

  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.                                                                                                                                              G.G