Alcor Holdings Ltd v Czech Republic PCA Case No. 2018-45 - Notice of Dispute - Czech - 30 June 2016
On 30 June 2016, the Ministry of Finance received a request to enter into amicable settlement negotiations from the Dubai company Alcor Holdings Ltd. submitted pursuant to Article 9 of the Agreement on Promotion and Reciprocal Protection of Investments between the Czech Republic and the United Arab Emirates. In its application, the company states that the subject of its investment is land in the territory of the capital city of Prague, on which public roads have been built in the past. According to the company, the capital city of Prague refused to conclude a lease agreement with it in relation to these lands, which was to unjustifiably enrich itself at its expense. The company claims damages in the amount of CZK 482,703,230 from the Czech Republic.