European Human Rights Court Orders Montenegro to Cover Lost KIPS Company Profits | Beta Briefing

European Human Rights Court Orders Montenegro to Cover Lost KIPS Company Profits

Source: Beta/Vijesti
SEE Business / Montenegro | 24.03.20 | access_time 10:21

Money

The state of Montenegro has been ordered to pay the Podgorica KIPS company EUR4.5m, which is the largest fine by the European Human Rights Court in Strasbourg with respect to Montenegro. 

KIPS company owner Ristor Drekalovic called for the Court to protect it, after former Podgorica mayor Miomir Mugosa stopped the construction of his shopping mall in 2005. 

KIPS sued the Montenegrin state for EUR67m, but the Court ruled that he needs to pay only EUR4.5m to make up for the firm’s losses in 2006 and 2007. Montenegro legal representative Valentina Pavlicic said that the ruling was binding. Montenegro has obeyed all of the European Human Rights Court’s decisions in the past.

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