UP and C.D. (Le Cheque Déjeuner) v. Hungary

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Case Details

Year of Filing: 2013

Case Status: Annulment Pending

Claimant(s): UP and C.D Holding Internationale (formerly Le Cheque Dejeuner)

Respondent(s): Hungary

Arbitral Rules: ICSID

Legal Instrument: Treaty

Treaty: France-Hungary BIT

Administrative Case Number: ARB/13/35

Arbitral Tribunal

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Major Developments

Key Decision:

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Counsel

Counsel for Claimant:

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Counsel for Respondent:

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Three are named by ICSID to hear Hungary’s effort to annul intra-EU BIT award Apr 17, 2019

UP and CD v. Hungary: On damages, arbitrators decline to apply a legal risk premium, citing the claimants’ successful lobbying to fend off early regulatory risk Oct 12, 2018

Analysis: In a striking new award, ICSID tribunal rules that Achmea judgment does not cast shadow over ICSID-based arbitration; but efforts to empanel ad-hoc committees to review such intra-EU BIT awards keeps getting harder Oct 11, 2018

UP and C.D. v. Hungary: On the merits, tribunal finds expropriation of the claimants’ investment and awards 23 million EUR plus interest Oct 11, 2018

ICSID Tribunal parts company with arbitrators in another case under same treaty and allows MFN clause to be used to bypass a narrow investor-state arbitration clause Oct 11, 2018

An update on three investment treaty claims against Hungary Feb 24, 2016

ICSID Tribunals constituted to hear CEAC v. Montenegro, Alghanim v. Jordan and Le Chèque Déjeuner v. Hungary Jul 15, 2014

Another French investor, Le Chèque Déjeuner, sues Hungary at ICSID over state take-over of popular meal voucher sector Jan 2, 2014