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ICSID obliges Hungary to pay damages to French voucher company
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 The World Bank’s International Center for Settlement of Investment Disputes (ICSID) has ordered the Hungarian state to pay the French voucher company Edenred an award of approximately 23 million euros, globenewswire.com reported, citing a statement by the French firm.
Edenred and two other French voucher companies sought compensation from Hungary at ICSID in 2013 for the restructuring of the country’s voucher system.
Hungary introduced a unified national voucher system in 2012, in effect squeezing out existing market players.
According to Edenred’s statement, the decision represents an important step in the process of solving the dispute.
What we know about Edenred
Edenred, which invented the Ticket Restaurant® meal voucher and is the world leader in prepaid corporate services, designs and manages solutions that improve the efficiency of organizations and purchasing power to individuals.