TIRANA, April 7 – The Albanian government will pay Greek company Valio Shipping about $1.3 million in compensation for an unlawfully seized vessel in the early 1990s. The government decision comes following a ruling by the Strasbourg-based European Court of Human Rights last October. The Albanian government has decided the amount will be paid to the Greek company in three months and covered by the contingency fund set aside in the budget to cover unforeseen future expenses.
The case was taken to the European Court of Human Rights in 2007 after the bailiff failed to execute Albanian court’s decision in favour of the company.
Valio Shipping is a shipping company in liquidation incorporated under Greek Law in 1991, with its legal seat in Kallithea, Greece.
Albania has been facing huge bills from rulings by the European Court of Human Rights in favour of former Albanian landowners seeking compensation for properties seized by the communist regime.
The total sum it had to pay in the past couple of years was about Euro 13 million.
