According to the magazine Monitor, Albania could be facing 450 million Euro of damages in all its arbitrage cases. Monitor has done a thorough analysis of all the arbitrage cases that are now under investigation, that involves the state of Albania. From all the cases, two corresponds to 2020. Considering that some of the cases are still in their early stage on court, it is still early to anticipate the court decisions, but nevertheless, it is easy to calculate what would be the damage in the worst-case scenario: 450 million euros.
One of the most famous cases is the dispute of Francesco Becchetti. In 2019, the International Centre for the Settlement of Investment Disputes at the World Bank ruled that Albania owes 107 million euros to Becchetti and his partners, after it expropriated the investments made by Becchetti in the country’s hydropower, wind energy, and media industries. According to L’Echo, the Albanian government has so far refused to pay any sum of money to Becchetti, and reports suggests that Albania has requested its cancellation.
A sentence that has gained a lot of attention is the dispute between Albania and the companies “Copri” and “Aktor”, which were engaged in the construction of Tirana-Elbasan highway. Monitor reports that the International Court ruled last year in favor of “Copri” and “Aktor”, and the Albanian authorities are expected to pay a total of 45 million Euros.
Another dispute which is currently in its pending phase is the case of Arka Energy B.V. against Albania, which was registered last December. The claimant, in this case, is an energy group, and they claim that Albania withdrew from a contract regarding a photovoltaic park. Monitor suggests that the requested compensation is 110 million Euros, although to date no official figure has been made public. Other disputes include the confrontation with “Durrës Kurum Shipping”, which could cost around 100 million Euro. The company claims that Albania breached unilaterally a concessionary contract. The case “Dondi and Kubota” against Albania, could also potentially hurt the Albanian finances with around 90 million Euros if the company will manage to win it.
