Gabriel Resources to file $5.7 billion arbitration claim against Romania
By licensing and then blocking the implementation of the Projects, without due process and without compensation, Romania has deprived Gabriel entirely of the use, benefit and value of its investments in Romania, including its rights to develop the Projects.
Gabriel’s claim is based on violations by Romania of several provisions of the Treaties, including due to:
- the expropriation of its investments in Romania without compensation;
- the failure to accord to its investments fair and equitable treatment and full protection and security; and
- the impairment of its investments by discriminatory and unreasonable measures.
The Memorial will detail factual and legal arguments supporting Gabriel’s claim against Romania and the quantum of the damages sustained due to Romania’s violation of the Treaties.
It will be submitted to the arbitral tribunal constituted under the auspices of the World Bank's International Centre for Settlement of Investment Disputes (ICSID). ■