Russia’s En + Group will libel at least three lawsuits in front of the International courts for arbitration against the Government of Montenegro for violation of their rights as investors.
Deputy Executive of Director of En + Group Timur Valiev said that their delegation visited Montenegro immediately after bankruptcy of the KAP Podgorica, where they tried to reach an agreement with the Government, but they failed in finding solution. Valiev said that En + Group “seems the Government has no plan about what to do with KAP and that means recent closure of factory.”
“We expect that we will lodge a complaint in next few months. We see Arbitration as only way to protect our rights,” said Valiev for the Weekend newspapers.
From En + group claims that they are misled repeatedly from the Government of Montenegro.
[widgets_on_pages id=”Baner”]
Valiev said that the En + group, by taking over KAP, knew that the key issue is providing electricity by reasonable price and that was reason why they they took part in the tender for Thermal “Pljevlja” TEP in 2006th, in which they won.
