ICSID rules in favor of government v. Sláger Rádió
The Washington, D.C.-based International Centre for Settlement of Investment Disputes (ICSID) on Wednesday ruled in favor of the state of Hungary in a dispute with radio station Sláger Rádió regarding the legal authority of a 2009 decision not to renew the station’s frequency.
The decision was at that time fairly surprising and then-ORTT chairman László Majtényi resigned over the matter.
Sláger Rádió sought ICSID arbitration for the station’s objection to the 2009 decision of ORTT (predecessor to current media authority NMHH) to award Sláger’s frequency license to Neo FM. Sláger had taken its grievance all the way to the Hungarian Supreme Court, but to no avail.
The Sláger filing with ICSID was attempting to collect $83.3 million in damage claims.
Per a request from the Hungarian national government, the ICSID was requested to hand down two rulings on the matter; the parties await a decision from the Center regarding ORTT/NMHH’s legal authority in the matter.
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