The Czech Republic has won an international arbitration case in which Cyprus-based investment vehicle Forminster demanded payment of damages worth CZK 802m. It charged that the Czech state impinged on its rights the company Kotva (renamed K-T-V Invest) through a ruling by a court where its ownership had been disputed. The international arbitration court in Geneva refused the claim, and Forminster will have to compensate the Czech state for its costs in the arbitration proceedings, according to ČTK.
