This crazy country is fighting a battle against Russian billionaire worth 80 percent of its GDP, is a headline that respectable American magazine Forbes published on 29th of November last year. The win of the “little crazy country” over the “big billionaire” Oleg Deripaska has happened, in spite of all the odds. Ministry of economy recently published a statement which has made waves around the business community that CEAC had lost international arbitration against Montenegro, it was reported by Dnevne newspaper.
This “crazy country” managed to prove what the Government of Montenegro kept repeating and that is that we’ve done everything in accordance with international legislation, domestic laws and related contracts. ICSID arbitration tribunal in Paris confirmed this.
Many in Montenegro didn’t believe the government though. Let us remind you of the statement from Nebojsa Medojevic from 2014 when he kept repeating in his accusations against the country that “CEAC has a strong basis for opening an international arbitration process against the government of Montenegro”.
These statements were good for CEAC representatives who kept issuing statements that this arbitration process will endanger not only European integrations of Montenegro but its financial stability as well.
Not only CEAC representatives were those with such statements though. Civic movement URA for example, among its first activities, in March of 2015, announced that it will propose to the Parliament to “urgently hire an international auditor” for KAP, because as they said “The government is doing nothing to protect istelf from this arbitration”.
Just like that, there were no comments until today regarding the decision of the ICSID arbitration court in Paris which acknowledged that Montenegro respected the norms of international business. Would it be this way if Montenegro had lost the process?
Source: Cafe Del Montenegro