Tuca Zbarcea & Asociatii and Freshfields Bruckhaus Deringer to represent AVAS in international investment dispute

Newsroom 21/06/2011 | 10:54

A consortium made up of Tuca Zbarcea & Asociatii and Freshfields Bruckhaus Deringer law firms will represent the Romanian Authority for State Assets Recovery AVAS in an international investment dispute file at the International Center for the Settlement of Investment Disputes ICSID. The complain against AVAS was filed by Turkish businesspeople Ömer Dede and Serdar Elhüseyni. They allege that Romanian authorities did not follow the privatization contract of SC Imum Medgedia.

Romania was called in disputes at ICSID eight times so far, and won three of the cases it was involved in, while the others are still pending resolution.

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