Region: Hungary

Panel formed for MOL's latest fight with Croatia

An UNCITRAL tribunal is in place to hear a contractual claim filed by Hungarian oil and gas group MOL against Croatia over the exploitation of hydrocarbons – the latest in a series of arbitrations between the parties.

23 June 2023

Hungary adds new set-aside ground

Hungary has introduced a new provision allowing courts to set aside awards in construction disputes that failed to properly consider opinions issued by a state-endorsed performance body – a move practitioners have called “problematic”.

22 June 2023

Croatia fails to reopen award after bribery verdict

A Swiss court has refused Croatia’s request for review of an UNCITRAL award in favour of Hungarian oil and gas group MOL in the wake of a corruption verdict against a former prime minister, ruling the arbitrators were not bound by the findings of the Croatian criminal courts.

13 October 2022

Croatia liable at ICSID after failing to prove bribery

An ICSID tribunal has ordered Croatia to pay US$184 million plus interest to Hungarian oil and gas group MOL after rejecting allegations that the claimant’s CEO paid bribes to a former prime minister – while dismissing the rest of the investor's billion-dollar claim.

06 July 2022

New Zealand courts hear first ICSID recognition bid

A court in New Zealand has said it can hear a request for recognition of an ICSID award against Hungary, even though there is no evidence the state has any assets in the jurisdiction.

04 February 2022

A win for Cameroon and other news at ICSID

UPDATED: Before the holiday break, Cameroon defeated an ICSID claim worth nearly US$1 billion and new claims were filed against Mali, Guyana, Peru and Hungary – while Italy failed again to knock out an Energy Charter Treaty case.

04 January 2022

Final voucher award rubber-stamped at ICSID

An ICSID committee has upheld the last of three intra-EU BIT awards in favour of French voucher companies against Hungary, ruling that a tribunal was within its rights to conclude the Achmea decision had no bearing on its jurisdiction.

21 October 2021

Hungary fails to upend another intra-EU BIT award

An ICSID committee has upheld a €5.2 million award in favour of a Portuguese cake and biscuit producer against Hungary, ruling that it is not bound by the European Court of Justice’s ruling on intra-EU bilateral investment treaties in the Achmea case.

20 July 2021

Intra-EU award against Hungary upheld

Hungary has failed to annul a €73 million ICSID award in favour of French food voucher services company Sodexo Pass International based on the Achmea ruling.

25 May 2021

Hungary defeats hotel owner’s denial of justice claim

An ICSID tribunal has rejected a €10 million claim against Hungary brought by a Jordanian investor in a boutique hotel who alleged he was denied due process in liquidation proceedings.

23 April 2021

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