Dovera Loses EUR 750M Lawsuit Against State

Yesterday the Court of Arbitration ruled that the Slovak state would not have to compensate the shareholders of health insurer Dovera over a EUR 750 million claims for lost profits.

Dutch company HICEE owns Dovera and was suing Slovakia because the former government put a ban on the use of profits for health insurers back in October 2007.

The state was represented by law office Skadden, and the court decided that the shareholders of Dovera were not protected under an investment protection agreement.

The verdict could pave the way for Slovakia to win additional lawsuits filed by other aggrieved health insurance companies. A full background can be found here.

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