Czech Republic faces billion dollar arbitration over health deal: report

The Czech Republic is facing another arbitration action brought by the company Diag Human of around one billion US dollars, the newspaper Lidové Noviny reported on Monday.

The complaint was lodged in November and is based on the bilateral protection of investment agreement between the Czech Republic and Switzerland according to information given to the paper by the Ministry of Finance.

Diag Human has been conducting a drawn out series of legal actions against the Cech Republic over a blood plasma deal it sealed with the state in the early 1990s. It was already awarded 327 million crowns in 1997.