On 4 December 2009, the Chairman of the Arbitration Tribunal formally ended the lawsuit filed by Eureko B.V. against the Republic of Poland, related to the privatisation agreement concerning PZU S.A., after the parties satisfied the conditions set forth in the Settlement and Divestment Agreement of 1 October 2009. Simultaneously to the activities aimed at ending the dispute subject to arbitration, the Republic of Poland and the Treasury – represented by the Minister of Treasury – and the other party to the dispute – Eureko B.V., undertook effective steps aimed at putting an end to all other disputes related to the process of privatisation of PZU S.A. This was possible due to implementation of the said agreement, which eliminated the risk of payment from the Polish budget to Eureko B.V. of the amount of PLN 36 billion (according to the Dutch insurer’s calculations).

The resolution of the dispute was possible owing to the involvement of many persons, both from public administration bodies, and from external bodies such as the investment bank Nomura and the legal office Hogan & Hartson.

Minister Grad would like to thank all persons who contributed to the resolution of the long‑running dispute, which prevented further development of PZU S.A. as the biggest insurer in Central and Eastern Europe.