ČEZ holdings blocked by Luxembourg court in Diag Human case

A Luxembourg court has blocked the holdings of the Czech semi-state energy company ČEZ in several Luxembourg-based entities. This action is linked to the Diag Human legal case, in which entrepreneur Josef Šťáva is seeking approximately 17 billion CZK in compensation from the Czech state.

The court decisions affect Czech Gas Networks S. à r. l. (CGN), in which ČEZ holds a roughly 55 percent stake, and Czech Gas Networks Investments S. à r. l. (CGNI), which is 100 percent owned by CGN. CGNI is the owner of Czech Grid Holding, which in turn owns the gas distributor GasNet and GasNet Služby.

ČEZ has denounced the move as “illegal and harassing,” stating that the company has no connection to the Diag Human case and holds no legal liability regarding the claims. The company clarified that any potential claims should be directed solely toward the Czech Republic rather than ČEZ, as the company was not a party to the arbitration. ČEZ intends to challenge the decisions.