Croatia government appeals to UN on MOL-INA talks
After a third round of talks between the parties over management of Croatia-based oil-and-gas company INA last week, the Croatian government reported that it has appealed to the United Nations legal body UNCITRAL to settle the dispute between the government and Hungary-based INA peer MOL.
The letter to UNCITRAL seeks to partly annul a 2009 agreement regarding management rights; the Croatian side asserts MOL’s “unlawfully” obtaining of management rights in a snafu that ended up with the then-Croatian prime minister jailed on charges of bribery.
On Saturday, MOL representatives stated that no notification about the filing with UNCITRAL had been received by them.
In November, MOL filed a request for arbitration with the International Centre for Settlement of Investment Disputes (ICSID) concerning the negotiations.
Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1
Bulgaria's Household Income, Spending Rise 20% in 2023
Job Fair and Career Prep at Corvinus Starts Tomorrow
Spago Budapest Offering Unique Sunday Brunch Experience
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
