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2008
Achmea v. Slovakia (I) Achmea B.V. (formerly Eureko B.V.) v. The Slovak Republic (I) (PCA Case No. 2008-13)
Nationality of the parties
Slovakia
Netherlands
Summary of matters at issue
Ownership of company that had obtained a share of around 8.5 per cent in the Slovak health insurance market (wholly owned subsidiary).
Claims arising out of various legislative measures introduced by Slovakia that allegedly constituted a systematic reversal of the previous liberalisation of the Slovak health insurance market that had prompted the claimant to invest in the Slovak Republic’s health insurance sector.
Economic sector and subsector
Tertiary: K - Financial and insurance activities
65 - Insurance, reinsurance and pension funding, except compulsory social security
Arbitral rules and administering institution
UNCITRAL
PCA (Permanent Court of Arbitration)
Composition of tribunal
Lowe, V.
van den Berg, A. J.
Veeder, V. V.
Tomka, P. (replaced)
Status/Outcome of original proceedings
Decided in favour of investor
Amount of compensation
65.00 mln EUR (84.70 mln USD)
22.00 mln EUR (28.80 mln USD)
IIA breaches alleged/found
Indirect expropriation

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

Full protection and security, or similar

Transfer of funds

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Transfer of funds
Follow-on proceedings
Judicial review by national courts
Judicial review by national courts
Judicial review by national courts
Judicial review by national courts
Award/decision upheld
Judicial review by national courts
Award/decision upheld
Judicial review by national courts
Award/decision set aside in its entirety
Link to Italaw's case page