Baros Bicakcic & Partners and Bojovic Draskovic Popovic & Partners have successfully represented Viaduct d.o.o. in an ICSID claim against Bosnia and Herzegovina.
According to BB Legal, Viaduct owned a 99% stake in a local company that won the concession to build two hydropower plants on the Vrbas river in Bosnia and Herzegovina but was never allowed to build the actual plants, with their rights eventually expropriated. The EUR 40 million claim, according to the firm, was for loss of profit.
“What makes this case particularly interesting,” BB Law Partner Nenad Baros commented, “is that this was one of the first, if not the first, disputes in the region which involved third party funding,” with the Partner saying an undisclosed fund invested EUR 3 million in the case.
The BB Law team included Baros, Partner Feda Bicakcic, and Associate Todor Duvnjak.
The BD2P team was led by Partner Uros Popovic and included Partner Marija Bojovic and Senior Associate Stefan Golubovic.