Czech Republic wins arbitrage over steel works privatisation

The Czech Republic has won an international arbitrage over the privatisation of the Nová Huť steel works in Ostrava, North Moravia. An international court of arbitration in Paris ruled on Tuesday that the state does not have pay approximately six billion crowns, or mo re than 335 million US dollars, to the Petrcíle Company which sued the Czech Republic for terminating the company’s pre-emptive contract in the late 1990s.