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010 Year Dispute Between Slovenia and Croatia Resolved
- New Europe Investor
- January 05, 2016
Slovenia has paid Croatia €42 million following the settlement of a dispute between the two countries at the Washington based International Centre for Settlement of Investment Disputes.
The dispute stems from undelivered electricity between 1st July 2002 and and 19th April 2003 to Croatian state owned utility, Hrvatska Elektroprivreda (HEP).
In a statement, the Slovenian Ministry of Finance appeared to accept the decision and released a statement saying, “This dispute has lasted for as much as ten years, and the interest has to be paid on damages which were awarded to HEP. Therefore, it was appropriate to pay the damages as soon as possible so that the interest would not accumulate any further.”
The Slovenian government had previously said that it would seek compensation from the electricity companies producing power at the time, but not supplying to Croatia.
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