A Bermuda-based Eastern European media company has been awarded $27.1 million in a dispute with a company executive at its Czech Republic television company subsidiary.

The Central European Media Enterprises Ltd. was awarded the cash, including interest, in its dispute with Vladimir Zelezny, the former general director of CNTS, CME's broadcast services company in the Czech Republic.

The award follows a hearing held in Amsterdam last May and was issued by the International Chamber of Commerce Court of Arbitration in Paris yesterday.

The award states: "The Arbitral Tribunal has found that Dr. Zelezny has violated the non-competition clause under the Share Purchase Agreement dated August 11, 1997 under which CME purchased a 5.8 percent interest in CNTS from Dr. Zelezny.'' The $27.1 million to be paid by Dr. Zelezny is collectible immediately.

The court also said additional interest of approximately $3,200 per day will accrue until the full amount is paid.

Under the 1958 New York Convention, to which the Czech Republic is a signatory, the ruling is enforceable immediately.

"The International Court of Arbitration ruled against Vladimir Zelezny now and I am hopeful that other arbitration tribunals will rule against the Czech Republic,'' said Fred Klinkhammer, CME's President and CEO.

On March 5, the arbitration hearing between Ronald Lauder and the Czech Republic will be heard in London.