MF: We appreciate the role and involvement of all partners who contributed to a positive legal outcome in favor of the state

The Ministry of Finance announced that it appreciates the role and involvement of all partners who directly or indirectly contributed to a positive legal outcome in favor of the state in the "Addiko Bank AG v. Montenegro" procedure.

From this government department, they add that this is also the case with the "Velimirović and Partners" law firm, which they say was not a direct representative of the state, but was engaged by an international legal team, led by Cherie Blair CBE KC and Catriona Paterson from Omnia Strategy LLP, as a local associate in the proceedings.

The Ministry of Finance made an announcement after the Law Office "Velimirović and Partners" reacted to the text published yesterday on the "Vijesti" portal under the title "Decision in favor of the State of Montenegro officially available".

From that office, they said that they made a significant contribution to prevent damage of 100 million to the state, and that the Ministry of Finance did not even mention them.

The government department adds that the announcement of the Ministry of Finance from February 8 is based on the official decision, published by the International Center for Settlement of Investment Disputes (ICSD) in English and prepared by the legal representative of Montenegro, "OMNIA Strategy LLP, in in which the associates of the London office, including "Velimirović and partners" are not individually highlighted.

"We remind you that on November 10, 2017, the Ministry of Finance published a 'Public invitation to domestic and international law firms to submit bids for the representation of Montenegro in the arbitration proceedings against Addiko Bank AG.' public invitation, individually, nor in cooperation with another law firm, and could not be engaged by the Ministry of Finance to represent Montenegro in the aforementioned arbitration procedure," the Ministry said.

They also state that they express their gratitude to the law firm "Velimirović i partners" for participating and contributing to this international legal battle, with full respect for their professionalism, while at the same time expressing regret that in the official decision, as well as in the public address of the Ministry of Finance, there was no direct gratitude for the contribution in positive resolution of this major legal issue, which protects the reputation and interest of the state.

"When it comes to the selection of a legal representative in the second mentioned procedure in the reaction of this law office, we inform the public that, in this particular case, a 'Public invitation to domestic and international law offices to submit offers for the representation of Montenegro in the arbitration proceedings against Dr. Duško Knežević, Atlas Capital Holding Limited and Meljine Complex Limited', which, among others, was contacted by the law office 'Velimirović i partners' in cooperation with 'OMNIA Strategy LLP'. The decision to select the law office 'Four Knights LLC' from Geneva was made in 2021. year, by the then Minister of Finance, Mr. Milojko Spajić, with which the public is already familiar," they conclude in the announcement.