Oglinda & Partners | View firm profile
Oglinda&Partners obtained a recognition and enforcement of a foreign Arbitral Award against a French company that entered into an insolvency prevention proceeding during the litigation, this way achieving for this client the right to seize the goods and receivables owned by the French company on Romanian territory.
The specificity of this procedure for recognition and enforcement of an arbitral award in Romania was the defendant’s application for dismissal of the exequatur procedure in Romania due to the insolvency prevention proceedings opened in France. This called into question the applicability of the scheme of arrangement regime according to Romanian insolvency law, French insolvency law and special European law – Regulation No. 848/2015 and Regulation No. 1215/2012. In support of its position, Oglinda&Partners team argued the primacy of Romanian insolvency law, taking into regard the conflict of law norms from EU Regulations, as the Romanian law could allow an interpretation in favour of continuing the enforcement against a company in insolvency prevention proceedings.
The court followed the reasoning proposed by the lawyers of Oglinda&Partners following the analysis of the two regulations in conjunction with the case-law of the CJEU and Romanian insolvency law, by issuing a favourable decision to reject the application for dismissal and to admit on the merits the application for exequatur, noting that all legal conditions for the recognition and enforcement of the foreign arbitral award in Romania are fulfilled.
This success was achieved under Mr. Eugen Sarbu’s coordination, as Partner of Oglinda&Partners, with the deep involvement of Mr. Mihai Ionescu-Balea (Senior Associate) and Mrs. Ana-Maria Damian (Senior Associate). We also thank Ms. Tasiana Timofticiuc (Associate) for supporting the team’s research activities on French and Eu law and case precedents.
This success confirms once again the experience and thorough legal training of Oglinda&Partners lawyers, qualities that made Oglinda&Partners a traditional leading law firm in international arbitration in Romania. Its lawyers specialized in Romanian arbitration coordinated the first emergency arbitrator procedure in Romania and in the last 20 years they were involved as lawyers or arbitrators in more than 300 arbitration cases in front of Romanian and foreign arbitral institutions like ICC, VIAC, LCIA, SCC, SHAC or Eastern Europe Courts of Arbitration, covering a wide range of sectors and industries.