Serbia Wins 175 Million Euro Arbitration Case Against 'Alma Quattro'

Serbia has secured a significant victory in an international arbitration case, successfully defending itself against a claim totaling 175 million euros. The dispute, brought forth by Swiss outdoor advertising company APG SGA and its local affiliate Alma Quattro, centered on a concession for billboards in Belgrade. The Serbian government, represented by its legal team, has convincingly demonstrated that the claims made by the companies were unfounded.

The core of the legal battle involved allegations that Serbia violated an exclusivity clause in a 2017 concession agreement. APG SGA and Alma Quattro initiated arbitration in 2021, asserting their rights were infringed when Belgrade awarded a contract for digital panels to another company. However, the arbitral tribunal, after careful consideration, ruled in favor of Serbia, dismissing the plaintiffs' demands.

This ruling not only validates Serbia's position but also results in a substantial award of $3.5 million to the state for legal costs. The tribunal's decision clarified that the original concession agreement did not grant Alma Quattro exclusive rights for digital billboards, thereby negating the basis of the lawsuit. Furthermore, claims related to breaches of bilateral investment treaty provisions, including fair and equitable treatment and non-discrimination, were also rejected. This outcome is a testament to Serbia's robust legal defense and its commitment to upholding contractual agreements while protecting national interests.