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Gov't announces Romania wins case against Gabriel Resources claims in Rosia Montana case
The claimants in the arbitration proceedings in the Rosia Montana case, heard by the International Court of Arbitration of the International Centre for Settlement of Investment Disputes (ICSID), Gabriel Resources Ltd. and Gabriel Resources (Jersey), are obliged to reimburse Romania's legal costs related to the arbitration proceedings.
According to a Government press release, Romania has won the arbitration case in the Rosia Montana case, the decision of the International Court of Arbitration of the International Centre for Settlement of Investment Disputes was communicated to the Romanian Government on Friday evening.
According to the arbitration court decision, Romania is awarded the case against Gabriel Resources Ltd. and Gabriel Resources (Jersey).
"Moreover, the claimants are obliged to reimburse Romania the legal costs of the arbitration proceedings. The ICSID decision will be published in the next 20 days," the press release said.
The Romanian Government welcomes this decision and thanks all those involved in defending the interests of the Romanian state.
"We fought for Romania because it was unfair that every employee and pensioner of this country be penalised for the mistakes of politicians who acted against Romania's interests. I am thanking the team of lawyers who represented Romania with professionalism, honesty and honour! Romanians should not suffer because of the decisions of some prime ministers who put their personal interests above national interests," Prime Minister Marcel Ciolacu is quoted as saying in the press release.
The Executive says that the international arbitration action was initiated in 2015 against Romania by two foreign investors, namely Gabriel Resources Ltd. and Gabriel Resources (Jersey) and was based on the agreements on the promotion and reciprocal guarantee of investments concluded by Romania with the Government of Canada (ratified by Law no.356/2009) and the Government of the United Kingdom of Great Britain and Northern Ireland (ratified by Law no.109/1995).
Romania wants the arbitration decision be published in full, the press release reads.
"Therefore, if the arbitral court drafts the arbitral decision without reference to confidential information in its possession, then the arbitral decision will become public in its entirety and will be published on the website of the International Centre for Settlement of Investment Disputes (https://icsid.worldbank.org)," according to the quoted source.