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2003
ADC v. Hungary ADC Affiliate Limited and ADC & ADMC Management Limited v. Republic of Hungary (ICSID Case No. ARB/03/16)
Nationality of the parties
Hungary
Cyprus
Summary of matters at issue
Rights under a contract entered into with a Hungarian State agency, ATAA, to renovate, construct and operate two terminals of Budapest-Ferihegy International Airport in Hungary.
Claims arising out of the issuance of a decree by the Minister of Transport of Hungary resulting in the takeover of all the activities related to the operation of claimants' investment, following the completion of the construction and renovation of the airport terminals at issue.
Economic sector and subsector
Tertiary: F - Construction
Tertiary: H - Transportation and storage
Tertiary: H - Transportation and storage
41 - Construction of buildings
51 - Air transport
52 - Warehousing and support activities for transportation
Arbitral rules and administering institution
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Composition of tribunal
Kaplan, N.
Philip, A. (replaced)
Brower, C. N.
van den Berg, A. J.
Status/Outcome of original proceedings
Decided in favour of investor
Decisions rendered
Amount of compensation
99.70 mln USD
76.00 mln USD
IIA breaches alleged/found
Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Arbitrary, unreasonable and/or discriminatory measures
Direct expropriation
Follow-on proceedings
None
Link to Italaw's case page