Bank ČSOB – logo. Illustrative photo.
Prague – According to the arbitration award, ČSOB, as the legal successor of the bankrupt Investiční a poštovní banka (IPB), must pay 3.7 billion crowns to ICEC-Holding. The bank stated on its website that it is considering possible further legal actions. She emphasized that the claim is not related to her business activity and the verdict will have no effect on the stability and functioning of the ČSOB group. The Seznam Zprávy server informed about the arbitration award today.
Along with 3.7 billion crowns, which are compensation for damages and a contractual penalty for breach of IPB's contractual obligations in 1999, ČSOB must also pay court costs of five million crowns, she said. “The plaintiff failed in the rest of his claim and the arbitration panel ordered him to pay ČSOB court costs of CZK 17.4 million. ČSOB is considering possible further legal steps leading to the revision of this award,” added ČSOB.