Energoalians started arbitration procedures, governed by the UNCITRAL Rules, on the basis of the Energy Charter, against the State of Moldova. By an award dated 2003 an arbitral tribunal found that the State was liable for a breach of the fair and equitable treatment and awarded reparation to the investor. Moldova initiated the annulment proceedings invoking an excess of the ratione materiae jurisdiction of the arbitral tribunal.
On 16 April 2016, the Court of Appeal of Paris held that the acquisition of the debt due under the power procurement contract did not meet the requirement of contribution and that, consequently, the operation conducted should not be qualified as an investment in terms of the Energy Charter.
The Cour de Cassation overturns the decision of the Court of Appeal of Paris. It holds that the latter added to the text of the Energy Charter a general criterion of a contribution that was not foreseen by the contracting parties.