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Slovakia appeals Achmea verdict

Slovakia had submitted a proposal with a court in Frankfurt to abrogate a verdict based on which the country has to pay €25 million in compensation to the Dutch firm Achmea, which owns the private health insurer Union, the TASR newswire reported on January 5.

Slovakia had submitted a proposal with a court in Frankfurt to abrogate a verdict based on which the country has to pay €25 million in compensation to the Dutch firm Achmea, which owns the private health insurer Union, the TASR newswire reported on January 5.

“There were more reasons behind the proposal to abrogate the verdict: for instance, the fact that the agreement on support and mutual protection of investments is invalid, the arbitration tribunal made an extra-jurisdictional decision and also the act of recognising or carrying out the decision would violate public order,” said the Slovak Finance Ministry representatives who filed the proposal, as quoted by TASR.

Slovakia lost its long-running legal dispute with Achmea in December 2012. An international tribunal ruled that the state must pay Achmea compensation for the damage caused by a ban on profits for health insurers instituted by the first Fico government (2006-10). Prime Minister Robert Fico said in December 2012 that the verdict was not valid and that “no one is going to pay anything”, TASR wrote.

Source: TASR

For more information about this story please see: Slovakia owes Achmea millions, court rules

Compiled by Radka Minarechová from press reports
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