SCC, December 2017, Evrobalt and Kompozit v. Moldova

The National Bank of Moldova suspended the participation of shareholders in a local bank for not having obtained due authorisation for collective purchase of the shares. The companies, including Russian Evrobalt and Kompozit, first brought separate emergency proceedings to stop the suspension. Two emergency arbitrators came to two opposite conclusions.
Later the two banks filed a joint €8 million treaty claim accusing Moldova of illegally
expropriating and breaching fair and equitable treatment. The claim was dismissed, as the investment was not validly made by the banks. The banks were ordered to pay close to €1 million in costs.

2018-01-20T21:03:29+00:00 December 31st, 2017|International awards, SCC|0 Comments

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