Dubai company launches arbitration over payments for Prague plots

Dubai-owned company Alcor Holdings has launched an international arbitration proceeding against the Czech Republic. The company is claiming 483 million crowns connected with its claimed failure to get compensation for the use of around 23,000 m2 of land dotted around Prague. Most of the land has been built on for key highways around the capital. The proceedings were announced by the Czech Ministry of Finance.

Author: Chris Johnstone