NFM: currently Hungary has no payment obligation towards the Portuguese biscuit manufacturer

In the current phase of the arbitration procedure Hungary has not generated any payment obligation towards the Portuguese DanCake biscuit manufacturer – the Ministry of National Development (NFM) told MTI on Friday.

The DanCake on Wednesday told MTI that the first phase of an international arbitration procedure has ended at the International Centre for Settlement of Investment Disputes (ICSID), that was initiated because of a dispute between the company and the Hungarian government. The Portuguese biscuits manufacturer requires a 110 million euros compensation from the Hungarian state. (MTI)