Summary

(Document, does not apply to summary and/or TDM IACL Case Report below).

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Case Report (free download)

Case Report by Sachin Nair, Editor: Ignacio Torterola

Summary

Claimants brought an action for relief against Hungary pursuant to the UK-Hungary BIT ("BIT") alleging that Hungary breached Article 6 of the BIT in expropriating its investment, i.e. its leasehold rights. Respondent disputed this as well as the jurisdiction of Tribunal following the Achmea decision. The Tribunal disagreed, finding that it was not bound by the Achmea decision and that it had jurisdiction over the present dispute. In relation to the merits of the dispute, the Tribunal held that Hungary had breached Article 6 of the BIT by expropriating the Claimants' investment without compensation.

Main issues

Intra-EU BITs; objection to jurisdiction arising from intra-EU BITs; unlawful expropriation of investment; doctrine of acquired rights.

Magyar Farming Company Ltd, Kintyre Kft and Inicia Zrt v Hungary ICSID Case No. ARB/17/27 - Award - 13 November 2019

Case report provided by International Arbitration Case Law (IACL)

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