PZU dispute rolls on

"The appeal calling for the court of arbitration's decision to be overturned has been filed," said Treasury Minister Andrzej Mikosz. In August, a court of arbitration based in Belgium said Poland had broken an international investment treaty in its dealings with Eureko, by breaking a promise to sell it a further 21 percent of the country's top insurer. Eureko had attempted to settle the dispute last week by tabling a deal whereby the Dutch firm would get a 21-percent stake in the Polish insurer for only zł.2.1 billion. In addition, Eureko was demanding zł.6 billion in compensation for the delay in implementing the earlier sale deal and was demanding an IPO for PZU by June 2006. (Reuters)