New Negotiations Memorandum by State Treasury of Poland and Eureko
Today the Ministry of State Treasury of Poland and Dutch insurance company Eureko signed a new Negotiation Memorandum. Similar to the one signed in February 2008, the present Memorandum is an agreement between the Parties to conduct negotiations. Purpose of the negotiations is to work out a settlement to end the dispute arising in conjunction with the PZU share purchase agreement of 5 November 1999.
By signing the Negotiations Memorandum both parties express the conviction that an amicable conclusion and termination of the Arbitration, pending at the request of Eureko based on the Treaty on the Encouragement and Reciprocal Protection of Investments between Poland and the Netherlands, is still possible and would be the more favorable solution for both parties.
The negotiations will be conducted, on the side of the Polish State Treasury, by Minister Aleksander Grad, and on the side of Eureko, by Mr. Bert Heemskerk, Chairman of the Executive Board of Rabobank Nederland. The Parties will use experts and advisors to prepare analyses and detailed proposals of financial and legal solutions. The negotiations will be confidential, i.e. the content will not be communicated to third parties, and will be held irrespective of the international arbitration proceedings.
For further information, please contact:
Bert Rensen, Press Officer Eureko Achmea,
Phone: +316 516 35 728