The claim of Komaksavia Airport Invest Ltd against the Republic of Moldova, rejected by the arbitral tribunal of the Stockholm Chamber of Commerce. Statements by the Minister of Justice
The arbitral tribunal of the Chamber of Commerce in Stockholm (Sweden) rejected on Wednesday, August 3, the request of Komaksavia Airport Invest Ltd directed against the Republic of Moldova, announced the Minister of Justice, Sergiu Litvinenco.
“The court awarded the Republic of Moldova 216,678 euros as compensation for the expenses incurred in connection with the arbitration procedure,” said Litvinenco.
The Minister of Justice specified that, through the request for the institution of arbitration proceedings dated May 15, 2020, Komaksavia requested, mainly, the Arbitral Tribunal to oblige the Republic of Moldova to continue the execution of the contract for the concession of the assets under the management of the State Enterprise “Chisinau International Airport” and the land related to them.
“Alternatively, Komaksavia requested the Tribunal that the Republic of Moldova pay it a compensation of 883.7 million euros for the expropriation of the alleged investment in connection with the concession contract. These requests were rejected, the Court ruling that Komaksavia had not made any investment in the assets of Chisinau International Airport. On the contrary, as mentioned, Komaksavia was obliged to pay the mentioned expenses to the Republic of Moldova, also saving it from paying arbitration fees in the amount of 422,500 euros, leaving them to Komaksavia”. I would like to thank lawyer Mihai Buruiană for the work done and for the result obtained”, concluded Litvinenco.