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2017
Inicia and others v. Hungary Inicia Zrt, Kintyre Kft and Magyar Farming Company Ltd v. Hungary (ICSID Case No. ARB/17/27)
Nationality of the parties
Hungary
United Kingdom
Summary of matters at issue
Lease contract with the Government for 500 hectares of agricultural land.
Claims arising out of the termination by the Government of the claimants’ land lease contract, following the passage of new legislation in 2013 that mandated ending of long-term land lease contracts between foreign investors and the State, with no compensation to affected farmers.
Economic sector and subsector
Primary: A - Agriculture, forestry and fishing
1 - Crop and animal production, hunting and related service activities
Arbitral rules and administering institution
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Composition of tribunal
Name not available
Alexandrov, S. A.
Hanefeld, I.
Status/Outcome of original proceedings
Pending
Decisions rendered
None
Amount of compensation
Data not available
Data not available
IIA breaches alleged/found
Data not available
Pending
Follow-on proceedings
None
Link to Italaw's case page