Paris, 16 December 2013
Orco resumes international arbitration proceedings against Croatian Centre for Restructuring and Sales regarding Suncani Hvar
Orco Property Group, S.A. (“Orco”) has resumed the ICC International Court of Arbitration proceedings against the department of the State of Croatia known as the Centre for Restructuring and Sales (formerly known as “Audio”) regarding the arbitration that was filed on 28 December 2012. These proceedings were suspended on 22 July 2013 pursuant to the terms of a Memorandum of Understanding (“MOU”) while the parties attempted to reach a settlement. The MOU has expired without a settlement and as such Orco has resumed the arbitration proceedings.
For more information please, visit www.orcogroup.com
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