Herbert Smith Freehills reviews the decision in Micula & Ors v Romania [2018] EWCA Civ 1801, where the English Court of Appeal dismissed an appeal against the High Court’s stay of enforcement of a 2013 ICSID award in favour of Swedish investors against Romania, but allowed an appeal against the High Court’s refusal to order Romania to provide security. The Court held that provision of security by Romania was appropriate as it was the “next best thing” to enforcement.
English CA Refuses Micula Appeal Against Stay Of ICSID Award But Orders Security
