ROMANIA Trends and Developments Contributed by: Cosmin Vasile and Alina Tugearu, Zamfirescu Racoți Vasile & Partners Attorneys At Law
Zamfirescu Racoți Vasile & Partners Attorneys at Law
12 Plantelor Street 023974 District 2 Bucharest Romania Tel: +40 21 311 0517/18 Fax: +40 21 311 0519 Email: cosmin.vasile@zrvp.ro Web: www.zrvp.ro
Arbitration in Romania The arbitral institutions and actors in Romania are in line with international arbitration prac- tices and are adopting technologies, including AI, seeking to develop the best instruments to enhance efficacy. In such context, the advan- tages of this ADR method clearly delineate it from domestic litigation, and the business com- munity has understood that national courts will never have the same rapid pace in adapting to change and distress, which has boosted interest among companies in including arbitration claus- es in their commercial agreements or opting to switch to arbitration. The most frequently used arbitral institutions based in Bucharest include the Court for Interna- tional Commercial Arbitration (CICA). It operates using procedural rules aligned with those of the ICC and other similar institutions, and aims to enhance the flexibility and efficiency of arbitra- tion in Romania while eliminating the formality of domestic courts at the same time. There is also a significant number of interna- tional arbitration cases involving Romanian actors (ICC, VIAC, LCIA and SCC), in addition to German and Italian institutions of arbitration (the German Arbitration Institute and the Court
Litigation in Romania: An Introduction Romania continues to be one of the most dynam- ic markets when it comes to dispute resolution, confirmed by a rise in energy disputes and an ever-increasing tally of construction cases. In the era of technology, constant change and corresponding adaptation remain key issues. In Romania, legal practitioners have rapidly adapt- ed to make use of the progress brought by the latest technologies, including AI, by seeking to develop the best instruments to enhance effi- ciency. With the spillover effects of the unceasing armed conflict taking place in Romania’s vicinity and the wide-ranging sanctions against Russia rais- ing concerns over Europe’s energy resources and reserves, all eyes are on Romania. Roma- nia’s energy sector continued to advance signifi- cantly over the past year, with OMV Petrom and Romgaz progressing the development of the two offshore gas fields in the Neptun Deep area, a project which, once operational, is projected to produce a staggering 100 billion cubic metres of natural gas, propelling Romania to become the European Union’s largest gas producer.
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