The International Court of Arbitration in Washington has suspended the 110 million EUR fine against Albania for the conflict with the Italian businessman, Francesco Becchetti since the case could go for a retrial.
The temporary suspension of the highest fine in history arrived after the Albanian government filed a complaint against the verdict.
On April 24th, the International Centre for Settlement of Investment Disputes, ICSID, fined Albania with 110 million EUR for the conflict with the Italian businessman, Francesco Bechetti. Although the ruling is final, the Court, which is part of the World Bank, allows an appeal when certain conditions are met.
The Albanian government made use of this mechanism to seek the annulment of the verdict and repeal the fine.
Top Channel
