Supreme Court rules in favor of Hubertus in privatization case
Hungaryʼs Supreme Court (Curia) yesterday ruled that Hubertus Agráripari had acquired land legally as part of the privatization of partially state-owned land manager Balaton-nagybereki Állami Gazdaság in 1992, and therefore rejected an appeal by the National Land Management Fund (NFA) submitted in 2011.
The NFA launched the appeal because it considered state-owned land leasing contracts acquired by Hubertus through the privatization to be unlawful and "against good morals". Through the contracts, Hubertus gained the right to rent 7,725 hectares of land for HUF 10 per hectares for 99 years.
Hubertus made several offers in the past and would be ready to pay market price for the land, but it would require the state to take part in the water governance costs of the area as it does for other state-owned rented land, Gyula Hubay the legal representative of Hubertus said following the Curiaʼs decision.
Hubertus Agráripari is majority owned by German company Hubertus Agrarindustrielle.
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