The Arbitration Institute of the Stockholm Chamber of Commerce rejected the lawsuit filed by Komaksavia Airport Invest Ltd against the Republic of Moldova, offering Moldova €216,678.75 in comepstaion for the costs incured in connection with the arbitration, Minister of Justice Sergiu Litvinenco has said.
“I remind that by the application to institute arbitral proceedings of May 15, 2020, Komaksavia asked the Arbitration Institute to oblige the Republic of Moldova to continue to implement the contract for the concession of the assets managed by the Chisinau International Airport and the adjoining land. In an alternative way, Komaksavia asked that the Republic of Moldova should pay €883.7 million to it for the expropriation of the alleged investment in connection with the concession contract,” stated the minister.
These requests were rejected. The Arbitration Institute ascertained that Komaksavia didn’t make any investment in the assets of the Chisinau International Airport. On the contrary, as it was noted, Komaksavia was obliged to pay compensation to Moldova and the arbitral taxes of Moldova, totaling €422,500.
In May 2020, Komaksavia Airport Invest Ltd filed a suit to the Arbitration Institute of the Stockholm Chamber of Commerce against the Republic of Moldova over alleged violations of the orders concerning the promotion and protection of investments and the expropriation of the agreement between the Government of the Republic of Moldova and the Government of the Republic of Cyprus on the mutual promotion and protection of investments.
