The Micula case refers to what started as an intra-EU
arbitration dispute between two Swedish investors and Romania and
might end—or not—as a State aid case. After the recent
EU judgment of June 2019, which marks a new twist, the fate of
this case from a State aid perspective remains at least partially
undecided.
Background of the Micula case
In the late '90s, the Romanian government wanted to attract
investors to help Romania's economy grow, especially in the
poorer regions of the country. To do so, it inter alia
enacted the Emergency Government Ordinance 24/1998 ("EGO
24") later amended by Emergency Government Ordinance 75/2000
("EGO 75") which made available certain tax incentives to
investors in certain disfavored regions of Romania and was expected
to last 10 years.
