The Rompetrol Group confirms it has retained international law firm Salans to ensure the commercial interests of the company and the investment of its shareholders during the ongoing criminal investigation by the Romanian authorities of Rompetrol and its management.
« Given the duration of sustained investigations of the company and its executives for nearly two years by both the National Anti-Corruption Prosecutor’s Office (PNA) and the General Prosecutors Office, and the economic losses caused by the investigations, we considered necessary to employ the legal services of a global law firm with leading expertise in international arbitration to be prepared to take action against the Romanian State », said Phil Stephenson, Deputy CEO of The Rompetrol Group.
« Salans has been retained by Rompetrol Group for the strict purpose of actively monitoring the criminal investigations and assessing the facts and economic damages that may constitute grounds for launching an international arbitration claim against the Romanian State », said Obie L. Moore, managing partner in Salans’ Bucharest office. « Such claims would be based upon material breaches to relevant bilateral and multilateral investment treaties », added Moore.
The Salans team advising Rompetrol Group is led by Obie L. Moore, managing partner of the Bucharest office, and Jeffrey M. Hertzfeld, Paris-based partner and head of the firm’s International Arbitration Practice.
Salans is a leading international law firm with offices in 14 countries in Europe, the U.S. and Asia, and with more than 450 attorneys. For more information, please visit www.salans.com.