Serbia Wins Arbitration Case Worth 175 Million Euros
Serbia has won an arbitration dispute worth 175 million euros before the International Center for Settlement of Investment Disputes (ICSID), initiated against it by the Swiss outdoor advertising company "APG SGA" and its subsidiary in Serbia, "Alma Quattro," concerning a billboard concession in Belgrade, as reported by the reputable international arbitration service "GAR."
TL;DR
- Serbia won an arbitration dispute worth 175 million euros.
- The case was brought by Swiss company APG SGA and its Serbian subsidiary Alma Quattro.
- The dispute concerned a billboard concession in Belgrade.
- The tribunal rejected claims regarding digital billboards and treaty violations.
- Serbia was awarded 3.5 million dollars for legal costs.
- The case originated from a 2017 concession agreement for outdoor advertising.