Challenge to the expropriation by the Hungarian Government of Montréal Airports' interests held in the operating company of the Budapest International Airport under the Cyprus-Hungary Bilateral Investment Treaty. The Republic of Hungary was found liable in an award of US$83.8M, including all costs.
ADC Affiliate et al. v. The Republic of Hungary, ICSID Case No. ARB/03/16; ICSID hearings at the World Court (The Hague) and IDRC (London).