Albania Must Pay $125M In Claim Over TV Station
Law360 (June 19, 2019, 7:33 PM EDT) -- An international tribunal has ordered Albania to pay an Italian businessman and several co-claimants €111 million ($124.6 million) for expropriating their investments in a television station.
Counsel for Francesco Becchetti and his co-claimants confirmed that an International Centre for Settlement of Investment Disputes tribunal had issued the award on April 24 after concluding that Albania had destroyed the claimants' investment in a television company called Agonset Shpk. Becchetti's co-claimants include business partner Mauro de Renzis and two Italian companies: Hydro Srl, formed to operate a hydroelectric dam in Albania, and the Italian construction company Costruzioni Srl.
Local media reports had indicated...
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