Strabag and others v. Poland Strabag SE, Raiffeisen Centrobank AG and Syrena Immobilien Holding AG v. Republic of Poland (ICSID Case No. ADHOC/15/1)
Indirect shareholding in Hotele Warszawakie “Syrena” Sp. z.o.o. (Syrena Hotels), a local company operating two hotels in Warsaw (Hotel Polonia and Hotel Metropol).
Claims arising out of Polish authorities’ alleged denial of legal titles to two hotels and related land plots in Warsaw that were held by Syrena Hotels, a formerly state-owned entity that the claimants had acquired during a privatization process; the legal titles were transferred to the successors of previous property owners. According to the claimants, government authorities had concealed contentious ownership issues prior to their acquisition of Syrena Hotels.
Tertiary: I - Accommodation and food service activities
Tertiary: L - Real estate activities
55 - Accommodation
68 - Real estate activities
None (ad hoc)
ICSID (International Centre for Settlement of Investment Disputes)
Veeder, V. V. (replaced)
Böckstiegel, K.-H. (replaced)
Reed, L.
Schill, S.
van den Berg, A. J.
Data not available
Data not available
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Most-favoured nation treatment

Direct expropriation

Indirect expropriation

Umbrella clause

Transfer of funds

Not applicable - settled or discontinued before decision on liability
Judicial review by national courts
Judicial review by national courts
Award/decision set aside in its entirety