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IN SHORT BUSINESS

Malchárek acts against ČSOB court verdict

LIBERAL New Citizen's Alliance (ANO) party Deputy Chairman Jirko Malchárek is taking action against the ČSOB arbitration court verdict made in Washington.

Malchárek has filed a motion against an unknown offender in connection with the verdict that ordered Slovakia to pay Sk24.7 billion (€636.6 million) to a Czech subsidiary of the KBC bank in a loan dispute dating back to the break up of Czechoslovakia, according to the TASR news agency.

If Slovakia doesn't appeal the court decision involving KBC's subsidiary ČSOB, it will have to pay the Sk24.7 billion to ČSOB this year, Malchárek said.

The country has been ordered to pay the Sk24.7 billion (€636.6 million) to ČSOB by the International Centre for Settlement of Investment Disputes (ICSID, an international arbitration tribunal), by January 28.

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