Supreme Court lifts stay on enforcement of ICSID award: the Micula saga continues
Micula and others v Romania [2020] UKSC 5
In the latest instalment of a long-running dispute, the Supreme Court has lifted the stay on the enforcement of a £150m ICSID award against Romania relating to state incentives to invest in food production. The Commercial Court and Court of Appeal had previously ordered a stay of such enforcement in circumstances where the European Commission had issued a decision prohibiting Romania from making payment under the award on the basis that such payment, in and of itself, would constitute illegal State Aid. This European Commission decision is subject to appeal to the CJEU having been annulled in 2019 by the GCEU.
