Czech Republic faces international arbitration
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Prague Daily Monitor | 6 December 2016

ČR faces international arbitration

On December 5, 2016, the Ministry of Finance announced that it had received a complaint against the Czech Republic from Germany’s A.M.F. Aircraftleasing Meier & Fischer GmbH & Co. KG. This company has thus officially initiated international arbitration proceedings. It requires compensation in the amount of USD 125.17m for an allegedly unauthorised addition of aircraft on the listing of the bankruptcy estate and their subsequent auctioning. The claimed deviations are related to bankruptcy proceedings from 2005 and 2006. International Legal Service department head Marie Talašová said that the Czech Republic’s legal position was strong, and therefore a request for an out-of-court settlement was rejected.