Mytilineos Prevails in International Investment Arbitration against Serbia

Moussas & Partners initiated a BIT claim under the UNCITRAL Arbitration Rules on behalf of Mytilineos Holdings back in 2005 against the Republic of Serbia (then Serbia and Montenegro) and then a second claim in 2013. The dispute related to a frustrated investment in state-owned RTB BOR, one of the largest metallurgical and mining complexes for copper extraction and production on a global basis. Following an award on jurisdiction issued in 2006, a second on the merits issued in 2009 and a third on the merits issued in 2017, the Tribunal awarded Mytilineos the amount of approx. USD 40 mio in damages. Our firm, joined by international firms in the course of the various phases of the case (Freshfields, Three Crowns, BDK Advokati), led our client to the successful outcome with persistence and commitment. The Tribunal eventually found that on the basis of the Greece-Serbia (former Yugoslavia) BIT, Serbia (a) indirectly expropriated without compensation Mytilineos’s investment (b) frustrated Mytilineos’s legitimate and reasonable expectations as an investor to be afforded fair and equitable treatment by the Serbian State.

The international arbitral tribunal comprised of Messrs. Klaus Sachs, a German national, as Chairman, US national Doak Bishop and Serbian academic Mirko Vasiljević as arbitrators.

Mytilineos Holdings’ press release of 29 August 2017 is available here.

The case has been headlined in the Global Arbitration Review (please find the full article here) and in Investment Arbitration Reporter [available here (requires subscription) ].

Case update: Serbia has honoured the award by paying the full amount within 2018 following an agreement with the Serbian government which we helped negotiate (for further information please click here)


Our Firm successfully represented a steel producer against a gas monopoly

Our Firm has successfully represented a major Greek steel company in a dispute against a regional monopoly in gas supply. We have obtained a temporary restraining order preventing the supplier from interrupting access to the grid, on presumably outstanding payments which the client disputes as monopolistically abusive. The court adopted our innovative and creative approach regarding the eligibility of the industrial consumers, which resulted in the questioning of the pricing policies from the monopoly to the client and therefore the lawfulness of the attempted cut off. The case will be definitely decided in ordinary proceedings where challenging and novel legal issues will have to be addressed.

Successful litigation on defamation cases of major corporate client

The Firm is currently acting on behalf of one of the largest Greek listed companies against specific representatives of the media and press on significant defamation cases. Our litigators successfully represented our client before national Courts and achieved the issuance of awards which imposed significant amounts of compensation on the opponent in favor of our client.