Knežević and the Atlas Group’s affected companies have the right to initiate arbitration proceedings against Montenegro, according to the arbitration rules of UNCITRAL, ICC or ICSID.
Montenegro claimed victory after an international arbitration court declined to rule on a reported 600-million-euro claim brought by Russian billionaire Oleg Deripaska.
Montenegro’s government said that the UNCITRAL arbitration tribunal dismissed all claims of Cyprus-based Central European Aluminum Company against the country.
Oleg Deripaska has, in his personal capacity, served a notice of arbitration against Montenegro, claiming unlawful expropriation of his investment and related treaty breaches
Investment arbitration process between CEAC Holdings Limited and Montenegro was finished on 26th of July, in a way that the arbitration tribunal declared itself non-jurisdictional for this process.