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Ministry rejects Lone Star’s claims

Aneta Cichla 14 June 2018
Ministry rejects Lone Star’s claims
Lone Star has claimed that it should receive EUR 135 mln in damages
POLAND The Ministry of Infrastructure and Development has responded to notifications published by Lone Star in which the American investor is demanding compensation for the blocking of the development of Galeria Wilanów in Warsaw.
According to information received from the Ministry: “In the opinion of the Ministry of Infrastructure and Development, the infringements indicated in the notifications by the Lone Star group companies did not take place.” The Ministry also stated not provide any further explanation in this matter.

We asked the developer of Galeria Wilanów, Globe Trade Centre (GTC), which Lone Star is the main shareholder of, about what further action is likely. However, GTC claims that it is not involved in the dispute. We also asked Lone Star similar questions but had not received a reply before the publication of this news item. The investor may or may not apply for international arbitration in this case. We wrote about the issue here.

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