Chorzów's Compensation Standard As Applied In ADC v. Hungary
Article from: TDM 3 (2007), in Energy Litigation and Arbitration - Expert Perspectives
Introduction
The decision in ADC Affiliate and ADC & ADMC Management v. The Republic of Hungary (hereinafter ADC v. Hungary ) constitutes the most recent and straightforward application of the Chorzów Factory compensation standard in an international arbitration expropriation case.[1] In 1998 ADC Affiliate entered into a 12-year concession agreement with the Hungarian Air Traffic and Airport Authority (ATAA) that included the construction of a new airport terminal and modernization and management of the Budapest Ferihegy Airport (hereinafter, Budapest ...