Arbitration Ruling from the ICSID Delivered in Favor of Sodexo’s Benefits and Rewards Activities in Hungary
February 04, 2019
On January 28, 2019, the International Center for Settlement of Investment Disputes (ICSID) delivered its decision in Sodexo’s arbitration claim against the Hungarian State in the Group’s favour.
Due to changes in the regulatory and fiscal environment in Hungary related to the issuance of food and meal vouchers, Sodexo had filed a claim for ICSID arbitration in July 2014 against the Hungarian state.
The decision delivered at the outcome of proceedings is favorable to Sodexo, with the Hungarian State being ordered to pay Sodexo an award of about 73 million euro, before interest.
This decision represents an important step in the process of resolving this dispute. The next step consists of making sure that the ICSID arbitration tribunal’s decision is implemented. The Hungarian state has up to 120 days to appeal.
To read the full version of the press release, please download the PDF:
- Press release (PDF)