Croatia to Pay USD 235 Million Arbitration Award to Hungarian Oil Company
- 3 Feb 2023 10:06 AM
- Hungary Matters
MOL had filed a request for arbitration against the government of Croatia in 2013 for breach of contract related to agreements concerning Croatian energy company INA signed in 2009. MOL has a 49% stake in INA but holds management rights in the company.
The state of Croatia owns close to 45% of INA.Filipović said the government has already earmarked the award in the budget.
Croatia surrendered jurisdiction over the agreement between MOL and the government of Croatia in 2003, allowing only international arbitration courts to decide on the matter, he said.
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