A Portuguese biscuits manufacturer requires 110 million euros compensation from the Hungarian state

The first phase of the in international arbitration proceedings for the dispute between the Hungarian government and the DanCake Portuguese biscuit manufacturing company has ended.

According to the decision of the International Centre for Settlement of Investment Disputes (ICSID), Hungary with the judgment of the Metropolitan Court violated the basic principles for the protection of foreign investments. The Dancake wants a total of 110 million euros compensation – the company told MTI on Wednesday. (MTI)