07
Thu, Jul
79 New Articles

Jankovic Popovic Mitic Successful for Alita before Supreme Court of Cassation

Jankovic Popovic Mitic Successful for Alita before Supreme Court of Cassation

Serbia
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Jankovic Popovic Mitic has successfully represented Lithuanian company Alita before the Supreme Court of Cassation of Serbia in a dispute with the Serbian Privatization Agency over a terminated privatization contract.

According to JPM, "in 2007, Alita, jointly with Sweden’s United Nordic Beverages, purchased a controlling stake in BIP (Beogradska Industrija Piva) from the Serbian Privatization Agency, that in early 2010 accused the companies of failing to meet their investment commitments and buy out minority shareholders and terminated the privatization contract. In November of the same year, it filed a claim for damages totaling EUR 67.8 million with the Serbian arbitration."

According to the firm, after a dispute lasting ten years, the Supreme Court of Cassation set aside the final award issued by a foreign trade arbitration center, and eventually released Alita from settling the EUR 68 million claim.

JPM’s team was led by Partner Djordje Novcic.

Our Latest Issue