Albania wins the International Arbitration against Francesco Becchetti

Francesco Becchetti
Francesco Becchetti

 Albania won the International Court of Arbitration trial against Italian entrepreneur Francesco Becchetti. The issue to which the parties collided had to do with the contract for the construction of the Kalivaç hydropower plant, which works by Becchetti company started in the late 1990s but never ended. 

The Italian entrepreneur had demanded a 137m-euro compensation for the termination of the contract by the Albanian authorities, which in turn filed a lawsuit claiming 12.9m euros as interest-delay, and a 158m-euro reparation for non-performance of the contract.

According to the Ministry of Energy announcement, the International Arbitration has found the Italian entrepreneur guilty by setting his fee of € 12.9 million plus 1.2 million for the costs of the process. Regarding reparation, the Arbitration is expected to be expressed with a second decision.

In 2015, Becchetti invested in launching the Agon Channel television. But this venture did not last long after the Italian entrepreneur was charged with setting up a tax evasion scheme, and a warrant was issued against him, while his activities in Albania were put under sequestration.
Albania wins the International Arbitration against Francesco Becchetti Albania wins the International Arbitration against Francesco Becchetti Saturday, January 27, 2018 Rating: 5
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