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Franak: UniCredit has no grounds for arbitration over CHF loans

Author: Hari Alfeo

ZAGREB, Sept 20 (Hina) - Italy's UniCredit, the owner of Zagrebacka Banka (ZABA), has no grounds for arbitration over Croatia's law on the conversion of Swiss franc loans at the International Center for the Settlement of Investment Disputes (ICSID) because Italy withdrew from its investment protection agreement with Croatia, the Franak association, which brings together holders of those loans, said on Tuesday.

(Hina) ha

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