Micula and others v Romania (European Commission intervening)

Arbitration – Enforcement. The enforcement of an arbitration award in the claimants' favour would be stayed pending the determination by the General Court of the European Union of proceedings challenging the intervener European Commission's decision that enforcement would constitute a new and prohibited state aid. However, the Court of Appeal, Civil Division ordered Romania to provide security in the sum of £150m, having held that EU law precluded the court from making an order for security which provided for the stay to be lifted if the order was not complied with.

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