The Polish Court of Appeal in Warsaw issues a judgment on the application of State aid law by arbitration tribunals

Background & facts of the case Based on a tender and a respective concession agreement Polish authorities entrusted in 1997 a private Polish company Autostrada Wielkopolska S.A. with construction and operation of a motorway. Following Poland’s accession to the EU, national laws were amended in 2005 to reflect particular EU laws on toll motorways. Since the amendment caused a loss of revenues for various motorway concessionaires, Polish legislation provided them also with respective compensation from a dedicated national fund, which was to be detailed in an annex to the relevant concession agreement. Accordingly, Autostrada Wielkopolska and Polish authorities negotiated an annex to their concession agreement indicating the method to calculate the compensation, which, in the view