2017
Magyar Farming and others v. Hungary Inicia Zrt, Kintyre Kft and Magyar Farming Company Ltd v. Hungary (ICSID Case No. ARB/17/27)
Hungary
United Kingdom
Leasehold rights to 760 hectares of State-owned agricultural land located in Hungary’s North-Western region of Ikrény.
Claims arising out of the alleged expropriation by the National Land Agency of the claimants’ leasehold rights to agricultural land, following new legislation and amendments in 2010-2013 which concerned the re-distribution of certain State-owned agricultural land through tenders. According to the claimants, a tender conducted by the National Land Agency resulted in the conclusion of lease contracts with third parties for the land leased by the claimants, which allegedly breached the claimants’ contractual and statutory pre-lease rights.
Primary: A - Agriculture, forestry and fishing
1 - Crop and animal production, hunting and related service activities
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Kaufmann-Kohler, G.
Alexandrov, S. A.
Hanefeld, I.
Decided in favour of investor
17.90 mln EUR (19.70 mln USD)
7.10 mln EUR (7.90 mln USD)
Direct expropriation
Direct expropriation
None