Hungary has been ordered to pay 73 million euros before interest to French food services company Sodexo, after the International Centre for Settlement of Investment Disputes (ICSID) delivered its decision in Sodexo’s arbitration claim against the Hungarian state in the French group’s favour.
In 2014 Sodexo filed a claim against the Hungarian state, due to changes made to the regulatory and fiscal environment in Hungary related to the issuance of food and meal vouchers.
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.