On November 13, 2019, the International Centre for Settlement of Investment Disputes (ICSID) rendered its award in the case of Magyar Farming Company Ltd., Kintyre Kft, and Inícia Zrt v. Hungary. The dispute arose out of changes to Hungarian land law which "precluded lessees of State-owned agricultural land plots [like the Claimants] from exercising statutory pre-lease rights in cases where the National Land Agency...leased the land out by way of a tender." Under the previous land law, the Claimants (including Magyar Farming Company Ltd., incorporated in the UK) had a lease agreement with Hungary's State-owned asset management agency which gave the Claimants a right to be notified by Hungary of an intention to sell the land upon the expiration of the lease and of any purchase offers from third parties that the state intended to accept so that the Claimants could enter into a renewed lease agreement with the third party buyer. Hungary acknowledged the existence of the Claimants' pre-lease rights, but argued that such rights could not be expropriated. ICSID disagreed and held that Hungary breached its BIT with the UK by expropriating the Claimants' investment without compensation and ordered Hungary to pay EUR 7,148,824, plus interest, in compensation for that expropriation and to reimburse the Claimants for their legal costs.