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Romanian state accused of "confiscating Nitramonia group companies"

Joi, 22 martie 2007, 0:00

US investor S&T Oil Equipment & Machinery, former majority stock holder at Nitramonia Fagaras, will address the International Court for Commercial Litigations (CLIC) in Washington, accusing Romanian state's decision to "confiscate the companies that formed the Nitramonia Fagaras group”.

The US group claims that the takeover move initiated by the Romanian state is illegal and comes against all international regulations. The group notified the Romanian government in March and expect the arbitration procedures to be opened in a few weeks.

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