BRATISLAVA, May 8, (WEBNOVINY) – The Permanent Court of Arbitration in The Hague will not further examine the suit filed against the Slovak Republic by the stockholder of the Dovera private health insurer over legal restrictions regarding the use of profit. The arbitral tribunal has concluded that the dispute between the company HICEE and the Slovak Republic does not fall under its jurisdiction. Nonetheless, this verdict has not put an end to the dispute in which HICEE demands remedy of damages caused by the adopted legislation, according to Martin Danko, a spokesperson for the private equity group Penta, which holds a stake in Dovera through HICEE.
In Danko’s words, the verdict of the arbitral tribunal will be delivered to HICEE in the next few weeks. After the claimant’s legal representatives familiarize themselves with the paper, the company will decide on further steps regarding the dispute. Danko has emphasized that the verdict does not mean the correctness of the profit-banning amendment from 2007. “As it does not mean that the bilateral treaty between the Netherlands and Slovakia had not been infringed,” the spokesperson stated. What is more, the Constitutional Court of the Slovak Republic has recently ruled that the legislation contradicts the constitution. Consequently, the Cabinet of Iveta Radicova will have to rectify the situation. Her team pledged in the government program statement to enable health insurance companies to use the profit under precisely set conditions.
SITA
