An international arbitration court in Washington, DC, specialising in legal disputes between international investors has ruled in favour of Hungary in a case involving a cancelled casino investment project in Sukoró, National Economy Minister Mihály Varga has said. “The international court today rejected the Israeli investors’ claim and compensation demand of HUF 100 billion,” Varga said this week. “Accordingly, the Hungarian state acted lawfully in this case and did not violate any investment protection agreement or disable the investors’ operations in Hungary.” Lawyer Beatrix Bártfai, who represented the state in the case, told state news agency MTI that the court ruled Hungary had acted fully in line with the law when it cancelled the concession contract for the casino. In connection with the related land-swap case the court had reached the same position as the Kúria, Hungary’s Supreme Court, in the past by stating that the land-swap contract was illegal and therefore null and void. The Washington court’s ruling is final and cannot be appealed, she added. The plans to build a casino and resort at Lake Velence for more than EUR 1 billion were derailed after a land swap involving the site was put under scrutiny. The affair was during the term of the Hungarian Socialist Party government. The Kúria declared the contract on the exchange of farm land for prime lakefront property null and void in 2012. Vigotop, owned by Ronald Lauder and managed by Joav Blum, turned to the International Centre for Settlement of Investment Disputes in Washington, DC, seeking damages under an international investment protection agreement between Hungary and Cyprus, where the company is registered.