2012
Dan Cake v. Hungary Dan Cake (Portugal) S.A. v. Hungary (ICSID Case No. ARB/12/9)
Hungary
Portugal
Interests in a local bakery company.
Claims arising out of the bankruptcy of a Hungarian baking company in which the claimant had invested and the alleged mishandling by Hungary's authorities of an insolvency process.
Secondary: C - Manufacturing
10 - Manufacture of food products
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Mayer, P.
Paulsson, J. (replaced)
Schill, S.
Landau, T.
Decided in favour of investor
Award dated 21 November 2017
Decision on Revision dated 25 February 2020
47.90 mln EUR (54.50 mln USD)
5.20 mln EUR (6.20 mln USD)
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

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

Arbitrary, unreasonable and/or discriminatory measures
ICSID annulment proceedings
ICSID annulment proceedings
Award/decision upheld
Decision on Annulment dated 16 July 2021
Bull, C. (President)

Crivellaro, A. (Member)

Pinto, M. (Member)