11/06/2006

No verdict in Poland-Eureko dispute

Contrary to expectations, a Belgian court has not announced its verdict concerning a dispute between Poland and the Eureko cosortium today. It was expected to declare whether a judge of an international tribunal of arbitration was partial, as Poland had claimed.
Both sides hope that the verdict will be announced before the end of the year.
Last year the international tribunal ruled that the Polish government violated the terms of a Polish-Dutch agreement, preventing the privatization of the Polish insurance company PZU. Poland refused to accept this verdict, arguing that one of the judges was partial. If the Brussels court accepts Poland’s arguments, the international tribunal of arbitration would end its procedures. Otherwise, the way would be opened for the Dutch side to pursue its claims. It estimated its losses recently at almost 8 billion zlotys.
Source:polskieradio.p



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