Slovakia

Slovakia

NO. Year of initiation Short case name Full case name Applicable IIA Arbitral rules Administering institution Summary Details of investment Outcome of original proceedings Respondent State Home State of investor Economic sector Economic subsector Arbitrators Amount claimed Amount awarded (or settled for) Breaches alleged Breaches found Decisions Individual opinions Follow-on proceeding type Follow-on proceeding status Follow-on decisions Follow-on individual opinions ICSID annulment committee members
1 2016 Muszynianka v. Slovakia Muszynianka Spółka z Ograniczoną Odpowiedzialnością v. Slovak Republic (PCA Case No. 2017-08) Poland - Slovakia BIT (1994) UNCITRAL PCA Investment: Investments in mineral water production.

Summary: Claims arising out of the 2014 change to the Slovakian Constitution that forbade cross-border bulk transportation of drinking and mineral water derived from Slovak water sources and the rejection of the claimant’s application for a mineral water extraction permit. These actions allegedly frustrated the claimant’s venture to extract and transport (via pipeline) mineral water from a source in Slovakia to its bottling plant in a neighbouring town in Poland.
Investments in mineral water production. Decided in favour of neither party (liability found but no damages awarded) Slovakia Poland Secondary: C - Manufacturing 11 - Manufacture of beverages Alexandrov, S. A. - Claimant (replaced)

Thomas, J. C. - Respondent

Kaufmann-Kohler, G. - President

Volterra, R. - Claimant
575.60 mln PLN (150.90 mln USD) Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

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
Award dated 7 October 2020 Partial Dissenting Opinion by Robert Volterra None None None None None
2 2014 EuroGas and Belmont v. Slovakia EuroGas Inc. and Belmont Resources Inc. v. Slovak Republic (ICSID Case No. ARB/14/14) Slovakia - United States of America BIT (1991)

Canada - Slovakia BIT (2010)
ICSID ICSID Investment: Majority shareholding (90 per cent) in Rozmina, a Slovakian company that held an exclusive right to carry out talc mining activities in Slovakia.

Summary: Claims arising out of the revocation of claimants' exclusive rights for mining activities at the Gemerska Poloma talc deposit allegedly without compensation, despite three decisions of Slovakia's Supreme Court declaring such action illegal.
Majority shareholding (90 per cent) in Rozmina, a Slovakian company that held an exclusive right to carry out talc mining activities in Slovakia. Decided in favour of State Slovakia Canada

United States of America
Primary: B - Mining and quarrying 8 - Other mining and quarrying Mayer, P. - President

Gaillard, E. - Claimant

Stern, B. - Respondent
500.00 mln EUR (655.00 mln USD) Data not available 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

Direct expropriation

Indirect expropriation

Umbrella clause
None - jurisdiction declined Award dated 18 August 2017 Dissenting Opinion by Emmanuel Gaillard ICSID annulment proceedings Discontinued (ICSID annulment proceedings) Order of the ad hoc Committee on the Discontinuance of the Proceeding dated 31 October 2019 (ICSID annulment proceedings) None Bottini, G. - Member

Malik, M. - Member

Greenwood, C. - President
3 2013 Achmea v. Slovakia (II) Achmea B.V. v. The Slovak Republic (II) (PCA Case No. 2013-12) Netherlands - Slovakia BIT (1991) UNCITRAL PCA Investment: Shareholding in a Slovak health insurer, Union zdravotna poistovna (UZP).

Summary: Claims arising out of the Government's announced plan to establish a unitary public health insurance system in Slovakia run by the State, which would allegedly entail the expropriation of Achmea’s stake in a Slovak health insurance company.
Shareholding in a Slovak health insurer, Union zdravotna poistovna (UZP). Decided in favour of State Slovakia Netherlands Tertiary: K - Financial and insurance activities 65 - Insurance, reinsurance and pension funding, except compulsory social security Lévy, L. - President

Beechey, J. - Claimant

Dupuy, P.-M. - Respondent
72.00 mln EUR (93.00 mln USD) Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
None - jurisdiction declined Award on Jurisdiction and Admissibility dated 20 May 2014 None None None None None None
4 2013 U.S. Steel v. Slovakia U.S. Steel Global Holdings I B.V. v. The Slovak Republic (PCA Case No. 2013-6) Netherlands - Slovakia BIT (1991) UNCITRAL PCA Investment: Ownership of a local steel production company.

Summary: Claims arising out of the imposition of certain electricity tariffs upon claimant's local steel plant, US Steel Košice.
Ownership of a local steel production company. Discontinued Slovakia Netherlands Secondary: C - Manufacturing 24 - Manufacture of basic metals Reisman, W. M. - President

Volterra, R. - Claimant

Crawford, J. R. - Respondent
300.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability None None None None None None None
5 2012 Slovak Gas v. Slovakia Slovak Gas Holding BV, GDF International SAS and E.ON Ruhrgas International GmbH v. Slovak Republic (ICSID Case No. ARB/12/7) The Energy Charter Treaty (1994) ICSID ICSID Investment: Shareholding of 49 per cent in the Slovakian natural gas supplier Slovenský plynárenský priemysel (SPP).

Summary: Claims arising out of legislative amendments affecting Slovakian price regulation in the gas sector that were allegedly in contravention of certain shareholder's agreement concluded between the claimants and Slovakia, among other actions allegedly resulting in financial losses for claimants' investment in a Slovakian gas company.
Shareholding of 49 per cent in the Slovakian natural gas supplier Slovenský plynárenský priemysel (SPP). Settled Slovakia France

Germany

Netherlands
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Landau, T. - President

Douglas, Z. - Claimant

Thomas, J. C. - Respondent
Data not available Non-pecuniary relief Indirect expropriation Not applicable - settled or discontinued before decision on liability Settlement deed dated 14 December 2012

Award embodying the parties' settlement agreement dated 19 March 2013
None None None None None None
6 2009 EURAM Bank v. Slovakia European American Investment Bank AG v. The Slovak Republic (PCA Case No. 2010-17) Austria - Slovakia BIT (1990) UNCITRAL PCA Investment: Acquisition, through EURAM's Slovak subsidiary E.I.C., a.s., of a 51 per cent stake in the health insurance company APOLLO zdravotná poisťovňa, a.s.

Summary: 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.
Acquisition, through EURAM's Slovak subsidiary E.I.C., a.s., of a 51 per cent stake in the health insurance company APOLLO zdravotná poisťovňa, a.s. Decided in favour of State Slovakia Austria Tertiary: K - Financial and insurance activities 65 - Insurance, reinsurance and pension funding, except compulsory social security Greenwood, C. - President

Petsche, A. - Claimant

Stern, B. - Respondent
131.00 mln EUR (178.40 mln USD) Data not available Indirect expropriation

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

Transfer of funds
None - jurisdiction declined Award on Jurisdiction dated 22 October 2012

Second Award on Jurisdiction dated 4 June 2014

Award on Costs dated 20 August 2014
None None None None None None
7 2008 Achmea v. Slovakia (I) Achmea B.V. (formerly Eureko B.V.) v. The Slovak Republic (I) (PCA Case No. 2008-13) Netherlands - Slovakia BIT (1991) UNCITRAL PCA Investment: Ownership of company that had obtained a share of around 8.5 per cent in the Slovak health insurance market (wholly owned subsidiary).

Summary: 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.
Ownership of company that had obtained a share of around 8.5 per cent in the Slovak health insurance market (wholly owned subsidiary). Decided in favour of investor Slovakia Netherlands Tertiary: K - Financial and insurance activities 65 - Insurance, reinsurance and pension funding, except compulsory social security Lowe, V. - President

van den Berg, A. J. - Claimant

Veeder, V. V. - Respondent

Tomka, P. - Respondent (replaced)
65.00 mln EUR (84.70 mln USD) 22.00 mln EUR (28.80 mln USD) 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
Award on Jurisdiction, Arbitrability and Suspension dated 26 October 2010

Final Award dated 7 December 2012
None 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 (Judicial review by national courts)
Judgment of the Higher Regional Court of Frankfurt dated 10 May 2012 (Judicial review by national courts)

Preliminary Decision of the German Federal Supreme Court dated 19 September 2013 (Judicial review by national courts)

Judgment of the Higher Regional Court of Frankfurt dated 18 December 2014 (Judicial review by national courts)

Decision of the Federal Court of Justice dated 3 March 2016 (Judicial review by national courts)

Judgment of the Grand Chamber of the European Court of Justice dated 6 March 2018 (Judicial review by national courts)

Decision of the German Federal Supreme Court dated 31 October 2018 (Judicial review by national courts)
None None
8 2008 Alps Finance v. Slovakia Alps Finance and Trade AG v. The Slovak Republic Slovakia - Switzerland BIT (1990) UNCITRAL None Investment: Acquisition of certain receivables from a private Slovak company, i.e. sums payable to the assignor by a debtor who at the time of the assignment of the receivables had been declared bankrupt.

Summary: Claims arising out of alleged actions by the Slovak judiciary, particularly the Regional Court of Bratislava, preventing the claimant to enforce certain credits it had acquired towards a Slovak debtor.
Acquisition of certain receivables from a private Slovak company, i.e. sums payable to the assignor by a debtor who at the time of the assignment of the receivables had been declared bankrupt. Decided in favour of State Slovakia Switzerland Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Crivellaro, A. - President

Stuber, H. - Claimant

Klein, B. - Respondent
Data not available Data not available Indirect expropriation

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

Full protection and security, or similar
None - jurisdiction declined Award dated 5 March 2011 None None None None None None
9 2008 Austrian Airlines v. Slovakia Austrian Airlines v. The Slovak Republic Austria - Slovakia BIT (1990) UNCITRAL None Investment: Majority shareholding in a Slovakian airline.

Summary: Claims arising out of the alleged Government's liability for debts of a Slovakian airline in which the claimant had invested and that ceased to operate amidst financial problems.
Majority shareholding in a Slovakian airline. Decided in favour of State Slovakia Austria Tertiary: H - Transportation and storage 51 - Air transport Kaufmann-Kohler, G. - President

Brower, C. N. - Claimant

Trapl, V. - Respondent
Data not available Data not available Indirect expropriation

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

Full protection and security, or similar

Umbrella clause
None - jurisdiction declined Final Award dated 9 October 2009 Separate Opinion of Charles N. Brower (Final Award) None None None None None
10 2008 HICEE v. Slovakia HICEE B.V. v. The Slovak Republic (PCA Case No. 2009-11) Netherlands - Slovakia BIT (1991) UNCITRAL PCA Investment: Shareholding in two Slovakian health insurance companies, which were subsidiaries of another Slovakian entity in turn wholly owned by the claimant.

Summary: Claims arising out of the Government's adoption of a number of changes and amendments to the laws on health insurance since 2007, including an Act by which health insurance companies were prohibited from distributing profits and made subject to a cap on their permissible administrative expenses.
Shareholding in two Slovakian health insurance companies, which were subsidiaries of another Slovakian entity in turn wholly owned by the claimant. Decided in favour of State Slovakia Netherlands Tertiary: K - Financial and insurance activities 65 - Insurance, reinsurance and pension funding, except compulsory social security Berman, F. - President

Brower, C. N. - Claimant

Tomka, P. - Respondent
1000.00 mln EUR (1388.00 mln USD) Data not available 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
None - jurisdiction declined Partial Award dated 23 May 2011

Supplementary and Final Award dated 17 October 2011
Dissenting Opinion of Judge Charles N. Brower (Partial Award) None None None None None
11 2006 Mensik v. Slovakia Branimir Mensik v. Slovak Republic (ICSID Case No. ARB/06/9) Czech Republic - Switzerland BIT (1990) ICSID ICSID Investment: Data not available

Summary: Claims arising out of respondent's alleged mistreatment concerning a mineral water spring project in which the claimant had invested.
Data not available Discontinued Slovakia Switzerland Tertiary: E - Water supply; sewerage, waste management and remediation activities 36 - Water collection, treatment and supply Reisman, W. M. - President

Klein, B. - Claimant

Böckstiegel, K.-H. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Order for the discontinuance of the proceeding issued by the Tribunal dated 9 December 2008, pursuant to Regulation 14(3)(d) of the ICSID Administrative and Financial Regulations None None None None None None
12 2006 Oostergetel v. Slovakia Jan Oostergetel and Theodora Laurentius v. The Slovak Republic Netherlands - Slovakia BIT (1991) UNCITRAL None Investment: Majority shareholding in a yarn and thread manufacturing enterprise, Bratislavská cvernová továreň (BCT) that had been privatised by the Government.

Summary: Claims arising out of alleged actions and omissions by the Slovak authorities that resulted in BCT's bankruptcy, including actions taken by a Bratislava court and the local tax office.
Majority shareholding in a yarn and thread manufacturing enterprise, Bratislavská cvernová továreň (BCT) that had been privatised by the Government. Decided in favour of State Slovakia Netherlands Secondary: C - Manufacturing 13 - Manufacture of textiles Kaufmann-Kohler, G. - President

Briner, R. - President (replaced)

Wladimiroff, M. - Claimant

Trapl, V. - Respondent
1359.00 mln SKK (63.00 mln USD) Data not available Indirect expropriation

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

Full protection and security, or similar
None - all claims dismissed at the merits stage Decision on Jurisdiction dated 30 April 2010

Final Award dated 23 April 2012
None None None None None None
13 1997 CSOB. v. Slovakia Ceskoslovenska Obchodni Banka, a.s. v. The Slovak Republic (ICSID Case No. ARB/97/4) Czech Republic - Slovakia BIT (1992) ICSID ICSID Investment: Rights under certain consolidation agreement concluded among the Czech Republic, Slovakia and ČSOB concerning the claimant's financial restructuring.

Summary: Claims arising out of the alleged breach of a financial consolidation agreement concluded among the Czech Republic, the Slovak Republic and ČSOB in relation to the bank’s financial restructuring in advance of its then planned privatization
Rights under certain consolidation agreement concluded among the Czech Republic, Slovakia and ČSOB concerning the claimant's financial restructuring. Decided in favour of investor Slovakia Czechia Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding van Houtte, H. - President

Buergenthal, T. - President (replaced)

Bucher, A. - Claimant

Bernardini, P. - Respondent
40300.00 mln SKK (1132.00 mln USD) 24800.00 mln SKK (867.80 mln USD) Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Decision of the Tribunal on Objections to Jurisdiction dated 24 May 1999

Decision of the Tribunal on Respondent’s Further and Partial Objection to Jurisdiction dated 1 December 2000

Award dated 29 December 2004
None None None None None None
NO. Year of initiation Short case name Full case name Applicable IIA Arbitral rules Administering institution Summary Details of investment Outcome of original proceedings Respondent State Home State of investor Economic sector Economic subsector Arbitrators Amount claimed Amount awarded (or settled for) Breaches alleged Breaches found Decisions Individual opinions Follow-on proceeding type Follow-on proceeding status Follow-on decisions Follow-on individual opinions ICSID annulment committee members
1 2013 Poštová banka and Istrokapital v. Greece Poštová banka, a.s. and Istrokapital SE v. Hellenic Republic (ICSID Case No. ARB/13/8) Czech Republic - Greece BIT (1991)

Cyprus - Greece BIT (1992)
ICSID ICSID Investment: Ownership by Poštová banka of Greek Government bonds, characterized by claimants as a loan to the Greek Government, a claim to money, and a right to performance under a contract having financial value.

Summary: Claims arising out of the enactment of legislation that amended sovereign bond terms retroactively and unilaterally by the Government, allegedly allowing the imposition of new terms upon bondholders against their consent if a supermajority of other bondholders consented, in the context of Greece's 2012 sovereign debt restructuring.
Ownership by Poštová banka of Greek Government bonds, characterized by claimants as a loan to the Greek Government, a claim to money, and a right to performance under a contract having financial value. Decided in favour of State Greece Cyprus

Slovakia
Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Zuleta, E. - President

Townsend, J. M. - Claimant

Stern, B. - Respondent
500.00 mln EUR (529.00 mln USD) Data not available Indirect expropriation

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

Umbrella clause
None - jurisdiction declined Award dated 9 April 2015 None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Partial Annulment dated 29 September 2016 (ICSID annulment proceedings) None Kettani, A. - President

Edward, D. A. O. - Member

Shin, H.-T. - Member