PL Holdings, a Luxembourg company, has prevailed in its SCC arbitration against the Republic of Poland. The claim concerned the uncompensated expropriation of PL Holding’s equity investment in a Polish bank, in violation of the Luxembourg-Poland BIT. In its recent Final Award, the tribunal ordered Poland to pay c. €176 million in damages and €3.5 million in costs.
Sean Aughey was part of the counsel team which successfully acted for PL Holdings, together with Fietta LLP, Linklaters (London and Warsaw), and Matthieu Gregoire.
The GAR article is available here.