Region: Hungary

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 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

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

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

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

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

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

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

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

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