Squire Patton Boggs has successfully defended the Republic of Kosovo against a EUR 380 million investment treaty claim brought by German investor ACP Axos Capital GmbH.
According to Squire Patton Boggs, the case was the first ever investment treaty case brought against Kosovo since it became an independent country in 2008.
In its judgement of May 3, 2018, the International Centre for Settlement of Investment Disputes (ICSID) rejected all claims brought against Kosovo and ordered ACP Axos Capital to pay more than USD 2 million to Kosovo for fees and costs incurred by the country in defending against the claim.
“The total value of the claim amounted to over 20 percent of the annual state budget of Kosovo. A loss would have had dire consequences for the country,” says Squire Patton Boggs Partner Luka Misetic.
The Squire Patton Boggs team representing Kosovo was led by Partners Luka Misetic and Stephen Anway in New York, Rostislav Pekar in Prague, and Stephan Adell in Paris, and included Associates Mark Stadnyk in New York and Maria Polakova and Vladimir Polach in Prague.