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Reaction: The International Tribunal has already rejected the lawsuit of the former majority owner of KAP against the Government of Montenegro

Published date: 07.12.2016 15:47 | Author: m

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Regarding the statement of the President of En+ Group Oleg Deripaska that he served, in his individual capacity, a Notice of Arbitration against the state of Montenegro, the Ministry of Economy reminds that a daughter company of En+ Group, CEAC, has already lost the case against Montenegro before the Arbitration Tribunal of the International Centre for Settlement of Investment Disputes (ICSID) in Paris in July this year.

In any case, the Government will also in this case prove that it acted in accordance with the Settlement Agreement and the applicable legislation and international best practice in this area. Therefore, we expect the International Tribunal will also in this case confirm the unreasonableness of any damage claims against Montenegro.
 
The Ministry of Economy will not, as it did not before, comment on the proceedings that are in progress.