Czech Republic settles dispute with Nomura

The Czech Republic has settled a six-year dispute with Japanese investment group Nomura. In 2000, amid rumours of pending collapse, the IPB bank in which Nomura held a 50 percent stake, was placed under forced administration and sold for a symbolic one crown to another bank, CSOB. Nomura says the Czech state had failed to protect its investment and won a London arbitration decision earlier this year. In a two-page agreement both sides have pledged to file no more complaints, make no more financial demands, and withdraw from any ongoing court proceedings.

Author: Dita Asiedu