CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
At the beginning of this year, the Court of International Commercial Arbitration of the Chamber of Commerce and Industry of Romania (CICA) has adopted a new set of arbitration rules (the New CICA Rules). The New CICA Rules govern arbitral proceedings starting with 1 January 2025, replacing the rules which were in force from 2018 (the Old CICA Rules).
European Commercial Courts are positioning themselves as alternatives to other national courts as they remain closely tied to domestic court systems.
Cobalt has successfully represented Swedish truck manufacturer Volvo Truck Corporation in a dispute initiated by Balta against Latvian truck conversion specialist Unitruck.
The distinction between a domestic and a foreign arbitral award is important because it affects the recognition, enforcement, and legal remedies available under Serbian law. The domicile of the award is determined by the seat of arbitration and the law applied to the arbitral proceedings.
In its recent decision of 19 February 2025, the Supreme Court of Hungary (‘Curia’) overturned the second-degree verdict that held fraud victims solely liable and ruled that financial institutions cannot automatically reject compensation claims. This landmark decision might open the doors for customers to claims against their banks in similar cases.
Tuca, Zbarcea & Asociatii has successfully represented the association between China-based CRRC Qingdao Sifang and Romania-based Astra Vagoane Calatori before the Court of Justice of the European Union in a case which rendered Emergency Ordinance No. 25/2021 on the exclusion of non-EU economic operators from public procurement procedures ineffective.
Tuca Zbarcea & Asociatii has represented Egger Romania in a dispute over undue charges by an electricity supplier based on a misinterpretation of Government Emergency Ordinance No. 27/2022.
