Plaza Centers Claims Dismissed in Casa Radio Arbitration Against Romania

The latest announcement is out from Plaza Centers N.V. ( (PL:PLZ) ).

Plaza Centers N.V. has received an arbitration award from the International Centre for the Settlement of Investment Disputes concerning its long-running dispute with Romania over the Casa Radio / Dâmbovița Center real estate project in Bucharest. The tribunal, ruling by majority, dismissed the company’s claims on jurisdictional grounds, based on findings related to Plaza’s conduct and historical agreements cited in its public disclosures between 2016 and 2020.

Under the award, each side will bear its own arbitration costs, avoiding an adverse cost order for Plaza Centers but leaving it without the relief it had sought against Romania. The company is now reviewing the tribunal’s reasoning, evaluating the implications of the findings for its position in the project, and considering its available options and next steps, which could influence its future strategy and stakeholder expectations around the Bucharest development.

More about Plaza Centers N.V.

Plaza Centers N.V. is a real estate company whose shares are listed on the main board of the London Stock Exchange, the Warsaw Stock Exchange and the Tel Aviv Stock Exchange. The company has historically focused on large-scale development projects in Central and Eastern Europe, including the Casa Radio / Dâmbovița Center Project in Bucharest, Romania.

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