Art 1 P1 - Peaceful enjoyment of possessions - Unjustified refusal to enforce final and binding arbitration award by International Chamber of Commerce against National Property Fund after rescission of share-purchase agreement for State property being privatised.
1. Raising mainly issues under Article 1 of Protocol No. 1, this case concerns the non-enforcement against the National Property Fund of Slovakia (“NPF”), the country’s privatisation agency, of an arbitration award made by the International Court of Arbitration (“the ICA”) of the International Chamber of Commerce in Paris (“the ICC Tribunal”).
2. The award was for the payment of a principal amount plus interest based on the rescinding by the NPF of a contract with the applicant company for the purchase by the latter of shares in Bratislava Airport in the process of its privatisation.