On November 4, 2024, a pivotal hearing in the legal battle between Delta Holding and the Republic of Serbia took place. Touted as one of the most significant lawsuits in the region, it surprisingly slipped under the radar, receiving little to no media attention. The lack of coverage leaves observers wondering: how could Serbia’s lawsuit of the decade be so conspicuously ignored by the press?
Case Background: Delta Holding vs. Serbia
Delta Holding filed a lawsuit against the Republic of Serbia seeking damages for what it claims were unfounded actions taken against the company and its owner, Miroslav Mišković. The claims include unlawful detention, prolonged incarceration, and the illegal retention of a bail deposit. Filed in 2023 following failed settlement attempts, the lawsuit seeks RSD 1.4 billion and EUR 390,000 in damages.
Delta Holding alleges the state withdrew EUR 12 million in liquid funds from circulation, holding it for nine years. This, according to the company, inflicted significant financial harm, including losses from exchange rate fluctuations. The company is now seeking default interest on the amount, which has accrued over the years to RSD 1.46 billion—exceeding the original bail deposit itself.
Additionally, Delta Holding demands EUR 390,000 in compensation for exchange rate-related losses, citing the state’s 2022 repayment of the bail deposit at the 2013 exchange rate as unjust.
Timeline of Events
Arrest and Detention
On December 12, 2012, Miroslav Mišković was arrested on charges of corruption related to privatization deals. He spent 223 days in detention before Delta Holding secured his release by posting EUR 12 million (RSD 1.36 billion) in bail.
Violation of Rights
In 2013, Serbia’s Constitutional Court ruled that the prolonged detention violated Mišković’s right to a limited duration of pre-trial detention.
Acquittal
In July 2016, the High Court cleared Mišković of charges, a decision upheld by the Appellate Court in December 2021, officially concluding the criminal proceedings. Delta Holding now asserts that the charges were baseless and the detention unlawful.
Legal and Financial Implications
Interestingly, Delta Holding’s claim focuses solely on material damages, leaving out compensation for non-material harm such as reputational damage. Cases at the European Court of Human Rights suggest high compensations for similar situations, with awards for non-material damages ranging from EUR 5,000 to over EUR 50,000, depending on the circumstances.
Should the Serbian court rule in favor of Delta Holding, the demanded compensation could set a precedent as the highest awarded damages for unlawful detention in Europe. Notably, this figure excludes potential non-material damage claims.
The underlying issue is the disproportionate bail amount—initially celebrated by the media as a triumph against corruption—that could now impose a significant financial burden on Serbian taxpayers. While the criminal case against Delta Holding once dominated headlines, the subsequent civil suit, where Delta is the plaintiff, remains largely ignored.
Media Silence: From Hype to Neglect
From heightened media interest in 2012 to near-complete silence in 2024, the dramatic shift raises questions. Why is a case with potentially enormous financial implications for Serbia’s budget receiving so little coverage?
The Delta Holding case carries profound legal, financial, and political ramifications. Whether future hearings will garner the public and media attention they deserve remains to be seen. For now, it seems this story has only found its voice in niche legal commentary, such as IA Law Firm Bosnia’s November newsletter.
For more on this case, visit biznis.rs
