को 2013 Mytilineos वी सर्बिया गणराज्य निवेश मध्यस्थता अगस्त का अंत हो गया 2017 और सर्बिया लागू द्विपक्षीय निवेश संधि का उल्लंघन किया है करने के लिए मिला था.
Mytilineos की प्रेस विज्ञप्ति के अनुसार, the investment arbitration concerned RTB Bor, एक तांबे खनन और गलाने कंपनी है कि निजीकरण के अधीन था. While the Tribunal has not yet published the final award, some elements of the decision have been made public.
2013 Proceedings Outcome: Serbia Held Liable
An earlier arbitral tribunal had found no breaches in a 2009 पुरस्कार, but had expressly left the possibility of future treaty claims open.
In the latest August 2017 पुरस्कार, हालाँकि, Serbia was held liable and ordered to pay USD 40 दस लाख, including interest.
Mytilineos filed the investment claim in 2013, reportedly demanding USD 100 million for breaches of the foreign investors’ standards of treatment under the 1997 Greece-Yugoslavia Bilateral Investment Treaty (को “बीआईटी”), जिसमें बल में प्रवेश किया 1998. As the Republic of Serbia is the legal successor to The Federal Republic of Yugoslavia, public international law recognizes the legal continuity of many such international agreements.
The arbitral proceedings were organized under the UNCITRAL Rules and seated in Geneva. Certain issues arose regarding the appointment of the arbitrators. अंत में, the presiding arbitrator to be appointed was CMS partner Klaus Sachs. The other two arbitrators were King & Spalding’s Doak Bishop, the Claimant’s appointee, and Mirko Vasiljević, a professor of the Faculty of Law University of Belgrade, the Respondent’s appointee.
Background to the Dispute
The Claimant Greek company initially filed a claim regarding RTB Bor’s default in payment and metal supply 13 बहुत साल पहले, में 2004. The cooperation of the companies had begun in the late 1990’s. Mytilineos Holdings alleged that this default was unreasonable. यानी, the Serbian company had received advance payments. It also had received pre-financing and raw materials from its Greek partner. According to the Claimant, RTB Bor inappropriately used these resources for the payment of staff salaries, हालाँकि.
This was justified by Serbian authorities as a consequence of the restructuring of a State-owned company. यानी, the entire Serbian economy had to transition from an ex-socialist to a market-based economy and RTB Bor had to be privatized. During the restructuring, RTB Bor did not have to pay its creditors. अतिरिक्त, the Serbian government imposed its consent for each of RTB Bor’s management’s decision.
According to Mytilineos’ प्रेस विज्ञप्ति, Serbia was found to be liable for indirect expropriation without proper compensation, अर्थात, a violation of Article 4(1) of the relevant BIT. और भी, Serbia also was found to have violated Mytilineos’ legitimate expectations, अर्थात, there was a finding of unfair and inequitable treatment, in violation of Article 2(2) बीआईटी की, जो पढ़ता:
“Investments by investors of a Contracting Party Shall, at all times, be accorded fair and equitable treatment and shall enjoy full protection and security in the territory of the other Contracting Party.“
The Serbian legal team announced in its own press release that it might request the annulment of the award, despite the many difficulties inherent in annulling a final and binding arbitral award. As the award has yet to be made public, it is difficult to assess whether there are strong grounds for annulment.
Serbia’s advocates stated that the amounts put forward in the press release were imprecise and stressed that the Tribunal had in fact halved the overall amount claimed by Mytilineos.
The Serbian authorities have yet to announce whether annulment proceedings have been initiated.
- कैथरीन Grga, Aceris कानून SARL