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Wednesday, December 22, 2004
The International Commercial Court in Washington will make a decision in the case between U.S. company Noble Ventures and Romania.
The company is claiming more than 350 $million in damages from the Romanian state for canceling the privatization of the Resita Iron and Steel Plant (CSR).
Mircea Ursache, president of the Authority for State Assets Recovery (AVAS), yesterday said the final pleading has a 30 day term to be analyzed and a 30 day term in which to make the final judgment.
The privatization contract signed with Noble Ventures was cancelled in December 2002 after the investor failed to pay two successive parts of the transaction.
The trial started in 2001. CSR has since been bought by the German company Sinara Handel.
Posted by Iulia Rasoiu : 12/22/2004 10:17:00 am
06/01/2004 - 07/01/2004
ARIS confirms record FDI of 3.4 billion euros
New owner at CEC by fall 2005
New vice-president at HVB Bank Romania
Selection of public offers for Electroputere
Romania’s wine production-export increases
Oltchim Ramnicu Valcea increases profits
Local off-road ARO hits U.S. roads
Adidas relocates production to Romania and China
Montero group invests 2.4 Mln Euro in real estate
NBR proceeds with interest cuts
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