Albanian government to oppose the sentence that provides the compensation for Francesco Becchetti

Albanian government to oppose the sentence that provides the compensation for Francesco Becchetti
Francesco Becchetti
 Francesco Becchetti, the owner of Agon Channel won the case against the Albanian state that accused him of tax evasion, money laundering and embezzlement. But the Albanian government is not there and will demand the annulment of the sentence that condemns him to compensate Becchetti for almost 140 million euros.

The Albanian government is preparing the motion to ask for the annulment of the International Court of Arbitration (ICA).

The ICA is part of the World Bank group and has condemned the Albanian state to compensate an amount between 110 and 140 million euros to the Italian entrepreneur Francesco Becchetti, already owner of Agon Channel, a pan-European television station based in Albania.

In fact, the story revolves around Agon Channel: following an investigation by the prosecutor, the Albanian government decided to close the issuer on the basis of accusations of tax evasion, money laundering and embezzlement. The legal disputes between Becchetti and the Albanian state pose no news. The Italian entrepreneur has been the subject of the same accusations of financial crimes also regarding the construction of the Kalivac hydroelectric plant.

Becchetti obtained the license back in 1997, but the works of the plant were never completed. The Albanian prosecutor maintains that Becchetti, through his companies in Albania (including Agon Channel), has set up an extensive money laundering network, with which he has already earned more than 38 million euros.

Meanwhile, ICA's decision shifts the balance to Becchetti, supporting the latter's claim that the closure of Agon Channel took place purely because of political reasons. In fact, the broadcaster had repeatedly expressed itself critically towards the socialist government of Edi Rama. During the arbitration, Interpol had withdrawn the international arrest warrant against Becchetti and De Renzis (his business partner) given that the Albanian authorities were unable to justify it sufficiently. At the same time, the London courts had refused the extradition requests from the Albanian state.

The expropriation of Agon Channel, therefore, was considered illegal, as it is in violation of the bilateral investment treaty between Italy and Albania. On the other hand, the Albanian lawyer has already moved to request the cancellation of the ICA ruling: the request must be presented by next 20 June. However, the state attorney has already contacted a US office specialized in international issues.
Albanian government to oppose the sentence that provides the compensation for Francesco Becchetti Albanian government to oppose the sentence that provides the compensation for Francesco Becchetti Wednesday, July 31, 2019 Rating: 5
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