The concession on the container terminal in the Port of Durres/ Albania wins the arbitration against Durres Kurum Shipping

2024-08-01 18:09:00, Aktualitet CNA

The concession on the container terminal in the Port of Durres/ Albania wins the

Albania has won another case in international ICSID arbitration, this time with the company Durres Kurum Shipping SH.PK Claims of the companies Durres Container Terminal SH.A, Metal Commodities Foreign Trade Corp. and Altberg Developments LP, were related to the termination of the concession on the container terminal at the Port of Durrës. The plaintiffs sought damages in excess of $100 million.

For its part, the Ministry of Infrastructure and Energy, through legal arguments, has won this case at all levels of the Albanian judiciary.

The tribunal of the ICSID arbitral tribunal unanimously decided that the concession was terminated in compliance with the domestic legislation by the Albanian courts according to the procedure agreed in the contract and rejected the claims of the Claimants that such termination was carried out intentionally and not properly by the authorities Albanian, specifically the Ministry of Infrastructure and Energy.

The Tribunal also ordered the Claimants to pay most of the expenses and costs of the Republic of Albania in this arbitration process.

The result of this process was achieved by the work done by the working group, consisting of experts from the Ministry of Infrastructure and Energy, the State Attorney's Office, the Durrës Port Authority, as well as with the support of the international law firm Freshfields Bruckhaus Deringer.

This decision comes shortly after another important case was won by the Albanian state at the international court operating under the Paris-based International Chamber of Commerce (ICC), which gave the final decision on the dispute brought by Bankers Petroleum against the Ministry of Energy. and Industry of Albania (MIE) and Albpetrol./ CNA