July 6 (SeeNews) - The International Court for Settlement of Investment Disputes (ICSID) has accepted $184 million (181 million euro) out of a total of $1.1 billion claims of Hungarian oil and gas group MOL in an arbitration case against Croatia, the Croatian government said on Wednesday.
The court accepted just 18% of all claims of MOL, prime minister Andrej Plenkovic said during a televised news conference.
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Besides, Croatia will have to pay some 1 million euro costs related to the arbitration case and the corresponding interest.
Earlier on Wednesday, local daily Vecernji List daily reported that Croatia has lost the arbitration case initiated by MOL at the ICSID over Croatia's failure to fulfil its obligations under a master agreement on gas business.
Croatia's allegations of corruption during the privatisation of INA by MOL were rejected as well, Vecernji List said.
MOL is the largest shareholder in INA with a 49.08% stake, followed by the Croatian government with 44.84%.
MOL filed for arbitration against the Croatian government with the Washington-based ICSID in December 2013, claiming that Croatia had breached its obligations to take over INA’s loss-making gas business or apply market prices for gas, which it had agreed to do back in 2009.
($=0.982 euro)
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