The Republic of Moldova has hired a financial expert to represent the state in an arbitration process in Washington. According to a draft resolution, the executive will pay 235 thousand euros to The Brattle Group Limited to combat the financial claims put forward by an American company, reports IPN.
The case is on the docket of the International Centre for Settlement of Investment Disputes (ICSID) and was initiated by the American company Park Avenue Capital LLC. The disagreements started over the management rights of the country’s internet domain, “.md”.
The former state enterprise MoldData had signed a 20-year agreement with the American investor, granting him the exclusive right to sell web addresses in English and Spanish-speaking countries, where the “.md” extension is highly sought after in the field of medicine. Subsequently, the state did not extend the contract and blocked the foreign company’s access to the “.md” domains, which led the investor to accuse Moldova of illegal expropriation and demand compensation.
To demonstrate in court that the financial claims of the Americans are unjustified, the authorities in Chisinau will use the independent analysis conducted by The Brattle Group Limited. The situation is of utmost urgency, as the counter-expertise report must be submitted to ICSID no later than August 7.
