Hungary Must Pay €7M To British Agricultural Co.
Law360 (November 14, 2019, 6:01 PM EST) -- Hungary was ordered Wednesday to pay €7.15 million ($7.9 million) to a British agricultural company that claimed its leasing rights to state-owned farmland had been expropriated, after an international tribunal rejected arguments that the claim was barred under European Union law.
Magyar Farming Co. Ltd. and its Hungarian subsidiaries, Kintyre Kft and Inicia Zrt, had argued in the arbitration that they had been wrongly evicted from 760 hectares — about 1,878 acres — of state-owned land located in Hungary’s northwestern region of Ikrény that they had leased from the government.
The International Centre for Settlement of Investment Disputes tribunal issued the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!