Arbitration threat: Albania loses $80 million in one month

Tirana Times
By Tirana Times February 12, 2018 13:31

Arbitration threat: Albania loses $80 million in one month

Story Highlights

  • Paris-based International Chamber of Commerce has ruled the Albanian government will have to pay back Bankers Petroleum $57 million (€46.5 mln) over a tax dispute dating back to 2011. The ruling is the second international punishment Albania has received during the past month after Strasbourg-based European Court of Human Rights decided last January the Albanian government will have to compensate owners of a seaside apartment block a total of about €17 million ($21 mln) for illegally demolishing it in late 2013 to pave the way for a coastal promenade

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TIRANA, Feb. 12 – Albania has been ordered to pay back the country’s largest oil producer dozens of millions of dollars over a tax dispute under a decision that comes

Tirana Times
By Tirana Times February 12, 2018 13:31