Podgorica, (MINA-BUSINESS) – The New York law firm Hughes Hubbard & Reed LLP, in partnership with the Belgrade-based firm Nikcevic Kapor, will represent Montenegro in the arbitration proceedings before the International Centre for Settlement of Investment Disputes (ICSID) in the case of Tara Resources v. Montenegro.

The Ministry of Energy and Mining stated in a press release that the New York law firm, in partnership with the Belgrade firm, was selected as the top-ranked bidder in the public tender. 

The Ministry established a Commission n charge of the opening, review, evaluation, and ranking of all bids submitted on time.

“The Commission was comprised of representatives of the Ministry of Energy and Mining, as well as the Protector of Property and Legal Interests of Montenegro, thereby ensuring that the procedure was carried out professionally and in accordance with the law,” the press release stated.

Based on the Commission’s proposal and the Ministry’s report, the Government approved that the law firms Hughes Hubbard & Reed LLP and Nikcevic Kapor represent the State of Montenegro before ICSID.

The Ministry will keep the Government informed on a quarterly basis about the progress of the arbitration proceedings.