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Omnia Strategy LLP Secures Victory for the Republic of Serbia in ICSID Arbitration.

16th April 2026

Press Release

OMNIA SECURES VICTORY FOR THE REPUBLIC OF SERBIA IN ICSID ARBITRATION

Omnia Strategy LLP has helped secure an important victory for the Republic of Serbia, after claims brought by APG SGA S.A. and Alma Quattro Beograd were rejected by an arbitral tribunal constituted under the Arbitration Rules of the International Centre for Settlement of Investment Disputes – APG SGA SA and D.O.O. za promet i usluge Alma Quattro Beograd v. Republic of Serbia (ICSID Case No. ARB/21/13).

The dispute concerned a long-term concession contract for outdoor advertising rights, and raised complex issues on the relationship between contract rights and treaty rights in international law. Having confirmed it had jurisdiction to determine the claims made by APG SGA S.A. and Alma Quattro, in its Award of 13 April 2026 the Tribunal proceeded to reject all claims against the State and ordered the claimant to reimburse the Republic of Serbia nearly 50% of its legal fees and expenses.

The Republic of Serbia was successfully represented in this arbitration by the Attorney General’s Office of the Republic of Serbia and a team of external legal advisors: Williams & Connolly, Omnia Strategy (Cherie Blair CBE, KC, Catriona Paterson and Pietro Bombonato), Lucas Bastin KC of Essex Court Chambers, and Law Office Andjelkovic in Belgrade.

This Award solidifies Omnia Strategy’s record of success in the Balkans, having delivered successful outcomes in arbitrations brought against Serbia, Montenegro, Albania and Slovenia.

Cherie Blair CBE, KC, who led the Omnia Strategy team said: “The dispute raised complex issues of international law, and we are proud to have played our part in delivering a successful result to the Republic of Serbia. The outcome is a testament to the dedication of the State Attorney’s Office and the teamwork of all parts of the legal team.”

The Award remains confidential as at today’s date.

For more information, please contact [email protected]