Announcement regarding the Decision to cease the activity of the Bucharest International Arbitration Court (BIAC)
The High Court of Cassation and Justice of Romania (HCCJ) issued a binding decision for the purpose of law unification (no. 851/August 26, 2024), impacting associations and foundations organizing institutional arbitration. Published on August 26, 2024, the decision states that such organizations may conduct institutional arbitration only if expressly authorized by the law.
To ensure compliance with the HCCJ decision, the Board of the American Chamber of Commerce in Romania (AmCham Romania) has resolved to cease all institutional arbitration activities conducted by the Bucharest International Arbitration Court (BIAC) under AmCham's auspices.
For further details, please contact the AmCham Romania office at amcham@amcham.ro.