On April 13, 2026, Williams & Connolly won a major arbitration victory for the Republic of Serbia in an ICSID arbitration brought by Swiss claimants. The dispute arose in connection with a concession agreement for outdoor advertising in the City of Belgrade. Claimants alleged six separate breaches of the applicable bilateral investment treaty and sought more than EUR 175 million in damages. Following a merits hearing, the tribunal issued a complete ruling in our client’s favor, dismissing claimants’ claims in their entirety and awarding the Republic of Serbia millions of dollars in legal and arbitral costs. The victory was reported in Global Arbitration Review. This is Williams & Connolly’s third ICSID arbitration win on behalf of the Republic of Serbia.*
The Williams & Connolly team included senior counsel John Buckley, partners Jonathan Landy and Benjamin Graham, and associate Haley Wasserman.
*All cases vary and none is predictive.