Matter
Addiko Bank AG v. Montenegro (ICSID Case No. ARB/17/35)
- 24 November 2021Arbitration
24 November 2021Arbitration
Award dated 24 November 2021
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal found jurisdiction over Addiko Bank AG's claims and held them admissible, but found that Montenegro had not breached the applicable bilateral investment treaty. It dismissed the damages and other claims, ordered Addiko Bank AG to reimburse Montenegro USD 261,240.18 for its share of the arbitration costs and EUR 1,116,681.26 for its legal costs within 30 days, and found that interest was not warranted.
Supporting details
2 authorities · 38 participantsAddiko Bank AG
- Representative
- Leopold Specht (For: Addiko Bank AG)
- Representative
- Florian Heindler (For: Addiko Bank AG)
- Representative
- Laura Steinberg (For: Addiko Bank AG)
- Representative
- Million Berhe (For: Addiko Bank AG)
- Representative
- Viktoria Mair (For: Addiko Bank AG)
- Representative
- Olivia Wankmuller (For: Addiko Bank AG)
- Representative
- Lucy Martinez (For: Addiko Bank AG)
- Representative
- Specht & Partner Rechtsanwalt GmbH (For: Addiko Bank AG)
- Representative
- Petra Zirhan-Wagner (For: Addiko Bank AG)
- Representative
- Stefan Choi (For: Addiko Bank AG)
- Representative
- Darko Bulatovic (For: Addiko Bank AG)
- Representative
- Aleksandra Popovic (For: Addiko Bank AG)
- Representative
- Bojana Boskovic (For: Addiko Bank AG)
- Representative
- Tanja Luburic (For: Addiko Bank AG)
Montenegro
- Representative
- Milos Komnenic (For: Montenegro)
- Representative
- Cherie Blair (For: Montenegro)
- Representative
- James Palmer (For: Montenegro)
- Representative
- Catriona Paterson (For: Montenegro)
- Representative
- Pietro Bombonato (For: Montenegro)
- Representative
- Sophia Louw (For: Montenegro)
- Representative
- Angeline Welsh (For: Montenegro)
- Representative
- Ema Vidak-Gojkovic (For: Montenegro)
- Representative
- Omnia Strategy LLP (For: Montenegro)
- Representative
- Matrix Chambers (For: Montenegro)
- Representative
- Essex Court Chambers (For: Montenegro)
- Representative
- Law Office Komnenic & Associates (For: Montenegro)
Gladys Bagasin
International Centre for Settlement of Investment Disputes
- Arbitrator
- Bernard Hanotiau
- Arbitrator
- Pierre-Yves Tschanz
- Arbitrator
- Brigitte Stern
- Tribunal secretary
- Alex B. Kaplan
- Tribunal secretary
- Lindsay Gastrell
- Institutional administrator
- Anne-Marie Stallard
- Institutional administrator
- Vesna Bulatovic
- Institutional administrator
- Sanja Rasovic
- Institutional administrator
- Milena Maric-Vogel