Economy

Slovakia Wins International Arbitration against Polish Investor

Bratislava, October 8 (TASR) – Slovakia has won international arbitration against Polish investor Muszynianka, TASR learnt from the Finance Ministry’s press department on Thursday.

The subject of the dispute was the use of mineral water from springs located in the Slovak village of Legnava (Presov region), which was supposed to have been transported by pipeline to Poland and bottled in the Polish village of Muszyna.

The Finance Ministry specified that the arbitration tribunal on Wednesday (October 7) issued a final decision from the international investment arbitration based on a lawsuit filed by Muszynianka against Slovakia under an agreement on protection and support of investment between Slovakia and Poland.

The plaintiff was demanding almost €170 million from Slovakia in compensation, claiming that an amendment to the Slovak Constitution that regulates exports of unpackaged water contradicts international law. However, the arbitration tribunal confirmed that the regulation introduced by the aforementioned amendment in no way represents a violation of the bilateral investment agreement. The arbitration tribunal’s verdict is an important precedent for other EU countries as well, as it declared that Slovakia is fully authorised to protect its natural resources.

The Finance Ministry pointed to the fact this is now the twelfth international investment arbitration in a row won by Slovakia. As the arbitration tribunal didn’t recognise the plaintiffs claim for compensation, Slovakia remains one of only a few countries in the world that haven’t yet been obliged to pay out on such claims.

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