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RTPR Allen & Overy and Schoenherr Successful in EUR 800 Million Litigation Case for Electrica

RTPR Allen & Overy and Schoenherr Successful in EUR 800 Million Litigation Case for Electrica

Romania
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RTPR Allen & Overy and Schoenherr Romania have successfully represented Romanian electrical company Societatea Energetica Electrica S.A. in a EUR 800 million dispute against the Romanian Management Company for Ownership in Energy.

According to RTPR Allen & Overy, Societatea Energetica Electrica S.A. ("Electrica") won the first procedural phase in litigation against the Management Company for Ownership in Energy (SAPE), the Romanian public company which manages the state’s portfolio in the energy sector. The case referred to claims filed by SAPE against Electrica and other defendants for the payment of damages amounting to approximately EUR 800 million for alleged breaches of the post-privatization monitoring obligations regarding former distribution subsidiaries of Electrica. A series of international arbitration cases regarding these privatization contracts preceded this case.

"This case has been particularly difficult as the counterparty attempted to reopen, in a new procedural framework, older claims which had previously been subject to a series of intricate international arbitration cases,” said RTPR Allen & Overy Partner Valentin Berea.  

Schoenherr Partner Adina Jivan described it as “a litigation case of multi-disciplinary legal implications, raising some interesting and complex topics, and in which a long and intricate history of contracts and disputes came into play. In addition, the procedural aspects were very important, as the court decision, favorable to our client, was ruled on based on these.”

The RTPR Allen & Overy team included Partner Valentin Berea, Senior Associate Adriana Dobre, Managing Associate Vicu Buzac, and Associate Ana Popa. 

The Schoenherr team consisted of Partner Adina Jivan and Senior Associate Iustin Armasu.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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