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Greek Industrial Co. Wins $40M From Serbia In Mining Row

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Greek industrial conglomerate Mytilineos SA said Tuesday it has won $40 million in international arbitration against Serbia following a dispute with a state-controlled entity that operates one of the world’s largest copper mining complexes.

Mytilineos said it won the award after an international tribunal concluded that Serbia had indirectly expropriated the Greek company’s investment in the country through a series of legislative measures from 2004 until 2012, which Mytilineos claimed had essentially allowed state-controlled RTB Bor to default on certain payments owed to it.

Those measures…

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Source: law360

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