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MIM Law Successful for Beppler & Jacobson Montenegro in Commercial Court

MIM Law Successful for Beppler & Jacobson Montenegro in Commercial Court

Montenegro
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MIM Law has successfully represented Beppler & Jacobson Montenegro in the Commercial Court of Montenegro, which, following a long trial, ordered Casino Avala Budva to pay more than EUR 16 million EUR to the hotel owner for its unauthorized use of B&J's business premises.

According to MIM Law, "the dispute arose in 2011, after Casino Avala refused to vacate business premises in the Hotel Avala in Budva, owned by Beppler & Jacobson Montenegro, after the termination of the lease agreement. Beppler & Jacobson Montenegro initiated a series of court proceedings before the Montenegrin courts in order to restore its property and receive proper compensation. With the present judgment, awarding Beppler & Jacobson the amount of more than 13 million EUR for the damage claim and the pertaining default interest in the amount of approximately EUR 3 million, the first instance court finally acknowledged Beppler & Jacobson’s legitimate claim and put the seemingly everlasting series of numerous court proceedings closer to an end."

MIM Law reports that Beppler & Jacobson had previously been successful in two other proceedings against Casino Avala, resulting in damage awards of approximately EUR 400 thousand and EUR 100 thousand respectively.

MIM Law Partner Marko Milanovic, who was in charge of the case, commented that the judgement of Commercial Court of Montenegro carries more significance than simply bringing 16 million EUR for Beppler & Jacobson Montenegro. According to Milanovic, it "represents a meaningful step for Montenegro as well, as it sends a clear signal that the investments made in Montenegro are to be protected by the court authorities, which most certainly represents powerful incentive for foreign investors and creates favorable investment surroundings."

Montenegro Knowledge Partner

Radonjic/Associates is a leading Montenegrin full service law firm, providing integrated legal advice on complex transactions to its clients. The Firm’s client base is a diverse range of large international corporations, international financial institutions, leading energy and construction companies in Europe, and wealthy individuals investing in Montenegro. The Firm’s work is guided by commitment to delivering a responsive, cost effective and commercially focused service. Radonjic/Associates is recognized for its quality, the reputation of its professionals, and its international outlook. Some of the Firm’s lawyers have been individually ranked as the leading lawyers in Montenegro by major legal directories such as Chambers Europe, Chambers Global, IFLR, Legal 500.

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