Thu, Mar
46 New Articles

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

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

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.

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). 

Firm's website.

Our Latest Issue