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MIM Law Successful for Beppler & Jacobson Montenegro in Commercial Court

MIM Law Successful for Beppler & Jacobson Montenegro in Commercial Court

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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."

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