ISDS Case Map
Croatia
Four arbitration cases brought by banks against Croatia before the ICSID connected with the conversion of CHF-denominated loans were suspended on 30 June.
The Higher Regional Court held that there was no room for reasonable doubt that the arbitration clause in the Croatia - Austria BIT was invalid based on the rulings in Achmea.
Six banks have agreed not to take legal action against Croatia over its conversion of Swiss franc loans into euros in 2015 at the lenders’ expense.
OTP Bank has sued the Croatian government to recover about $34.60 million it lost during a mandatory conversion of Swiss franc-denominated loans to euro-based loans in 2015.
A golf course, free-trade agreements, and the fight for the soul of a city
Una empresa estatal húngara se persona en los pleitos en Washington como aliada de los demandantes. Quiere mantener la jurisdicción del Banco Mundial frente al Tribunal de la UE.
Arbitration proceedings which the Hungarian energy group MOL has launched against Croatia before the ICSID in Washington are still ongoing and a ruling is pending, and Croatia has contested the jurisdiction of the arbitration tribunal.
Many see the withdrawal of the lawsuit as a tactical move whereby MOL wants to additionally strengthen its position in ongoing arbitration proceedings it launched in Washington in 2013.
In September 2017, the investor filed a €500 million ISDS claim against the Republic of Croatia at an arbitration tribunal because the "state [had taken] away their development licences"
