Croatia will pay $255.7 million to Hungarian oil and gas company MOL under a ruling in an arbitration case at the International Centre for Settlement of Investment Disputes.
Croatia has lost an international arbitration case launched by Hungarian oil and gas group MOL over Zagreb’s failure to fulfil obligations under an agreement about the gas business of the jointly owned Croatian oil company INA.
The Croatian government okayed the out-of-court settlement between Croatia and the American Colgate McCallum investment management company, which will see Croatia pay €40m to the company.
Four arbitration cases brought by banks against Croatia before the ICSID connected with the conversion of CHF-denominated loans were suspended on 30 June.
The Higher Regional Court held that there was no room for reasonable doubt that the arbitration clause in the Croatia - Austria BIT was invalid based on the rulings in Achmea.
OTP Bank has sued the Croatian government to recover about $34.60 million it lost during a mandatory conversion of Swiss franc-denominated loans to euro-based loans in 2015.
Une longue bataille juridique et politique autour d’un projet controversé de golf et de développement immobilier est devenu le symbole des démêlés de Dubrovnik, en Croatie, avec l’invasion de l’industrie touristique.