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Wolf Theiss Successful for Saudi Company in Post-Privatization Litigation Against Romanian State

Wolf Theiss Successful for Saudi Company in Post-Privatization Litigation Against Romanian State

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Wolf Theiss’s Bucharest office is reporting that it secured a favorable decision in the first instance in an EUR 180 million claim against Saudi Arabia's Al-Arrab Contracting Co., the majority shareholder of Electroputere Craiova.

The claim was initiated by the Authority for the Administration of State Assets against the majority shareholder of Electroputere Craiova, which Wolf Theiss describes as "one of the most iconic Romanian manufacturers of industrial electrical equipment,” for an alleged breach of investment obligations under the Privatization Agreement of Electroputere.

The Wolf Theiss lawyers first managed to reduce the initial claim of AAAS of EUR 300 million to EUR 180 million by raising preliminary issues, and eventually obtained a ruling rejecting the claim in its entirety. 

Wolf Theiss’s team was led by Partner Ligia Cecilia Popescu and included Managing Partner Bryan Jardine,  Senior Associate  Andreea Zvac, and Associate Andreea Anton.

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MPR Partners | Maravela, Popescu & Roman is an internationally recommended and repeatedly awarded Romanian law firm providing integrated legal, tax advisory and insolvency services in all areas of interest for businesses and public administration. 

MPR Partners | Maravela, Popescu & Roman covers all major Romanian regions as well as the Republic of Moldavia, either directly or through carefully selected and closely coordinated correspondent offices. In addition, the firm has the infrastructure required to coordinate advice in multiple countries through highly reputed international networks of specialists ensuring high end services. 

Firm’s clients (multinational corporations, sound Romanian companies, private investors, public authorities and State companies) recommend MPR Partners | Maravela, Popescu & Roman as “A reliable team providing a high standard of work.” (quote by Chambers and Partners), having consistently endorsed the outstanding quality of services provided, flexible approach, responsiveness as well as the friendly working climate. 

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