IPB valued at CZK 34.2 billion
Prague / London, 9th June, 2008 – The tribunal for the IPB investor protection treaty claim published its expert determination of the value of a recapitalised IPB. The amount is CZK 34.2 billion as of 16 June 2000, the date that IPB was placed in forced administration. The tribunal made this determination pursuant to the November 2006 settlement agreement between the Czech Republic and Nomura concerning the claims between them arising from the forced administration of IPB and the transfer of its enterprise to CSOB.
The value determination is the final step in the resolution of the almost 8-year dispute between Nomura and the Czech Republic arising from IPB, and Nomura looks forward to the full resumption of its co-operation with the Czech Republic.
Under the settlement agreement, the Czech Republic shall pay to Nomura CZK 2.8 billion plus interest as a result of the value determination. This amount was derived from the value of IPB at the time of forced administration.
In March 2006, the treaty tribunal issued its award on the merits of Nomura's claim. The tribunal concluded that IPB's failure was caused by state subsidies to its competitors and the Czech Republic's failure to negotiate in good faith a resolution of the resulting crisis, which constituted unfair and inequitable treatment in violation of international law.
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For further information please contact:
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| Name | Company | Telephone |
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| Jiri Hrabovsky | Ewing Public Relations. | +42(0) 603 291 008 |
| Nichola Scola | Nomura International plc. | +44(0) 20 7521 2480 |
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Notes to editors:
Nomura
Nomura is a leading financial services group and the preeminent Asian-based investment bank with worldwide reach. Nomura provides a broad range of innovative solutions tailored to the specific requirements of individual, institutional, corporate and government clients through an international network in 30 countries. Based in Tokyo and with regional headquarters in Hong Kong, London, and New York, Nomura employs about 18,000 staff worldwide. Nomurafs unique understanding of Asia enables the company to make a difference for clients through five business divisions: domestic retail, global markets, global investment banking, global merchant banking, and asset management. For further information about Nomura, please visit www.nomura.com.
