US lawyer files lawsuit against Czech Republic regarding unpaid bonds from 1924

The US lawyer Ed Fagan has filed a lawsuit against the Czech Republic in Florida regarding unpaid bonds issued by the town of Karlovy Vary in 1924 and alleged discrimination against their holders. Besides the Czech state, the sued parties include the Czech National Bank, the town of Karlovy Vary and its mayor Petr Kulhánek. Mr Fagan told reporters on Wednesday he estimated the length of the trial at around 18 months, adding it could be halted if the sued parties agreed on a settlement. Mr Fagan brought a copy of the lawsuit, filed on Monday, to Karlovy Vary to officially hand it over to the municipal authority. The Czech Finance Ministry has rejected Mr Fagan’s 500-million-dollar claim for the bonds.