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Avia Invest's 900 million euros claim against Moldova is unreasonable and by its appeal to the Stockholm Arbitration Court the company wants to influence government agencies in order to further operate the Chisinau airport, despite the failure to ful

Avia Invest's 900 million euros claim against Moldova is unreasonable and by its appeal to the Stockholm Arbitration Court the company wants to influence government agencies in order to further operate the Chisinau airport, despite the failure to ful

The Public Property Agency announced this while presenting some details regarding the termination of the Chisinau airport concession contract with Avia Invest. PPA made a report on this topic after additional information on this issue appeared in the public space. As noted by the PPA, in accordance with the concession contract, the Public Property Agency, as a concessor, was obliged to exercise effective supervision over the fulfillment of all obligations of Avia Invest under the execution of the concession agreement. The provisions of the contract include an agreement stipulating that failure to provide a performance guarantee would be punished by terminating the contract. As noted, in the process of terminating the contract, PPA respected all the rights of Avia Invest regarding the timing and procedure for establishing a guarantee of proper performance, but Avia Invest did not fulfill its contractual obligations, which led to the obligation of PPA to terminate the concession contract in order to avoid liability for failure to fulfill its duties relate to the performance of the contract. The purpose of the notice about the termination of the contract was not to create an obstacle to the implementation of the concession contract: the contractual relationship with Avia Invest was terminated as a result of its failure to fulfill its contractual obligations. At the same time, until the termination of the contract the activities of Avia Invest were not influenced in any way. The Public Property Agency notes that Avia Invest's appeal to the Stockholm Arbitration Court with a request to recover 900 million euros in damages from Moldova is an attempt to influence government agencies in order to further gain the opportunity to operate the Chisinau airport, even with non-fulfillment of significant contractual obligations. As noted by the PPA, the amount of 900 million euros requested by Avia Invest is unreasonable, since the total investment for the entire duration of the contract was only 244 million euros, and this amount is artificially used in order to divert attention from non-fulfillment of contractual obligations by Avia Invest. The PPA indicated that the fact that the state introduced an airport tax amounting to 50% of the 9 euros rate levied by Avia Invest from each passenger does not affect the activities and investments of Avia Invest, which, according to the agreement, had to carry out work / investments from its own sources, and not from the funds accumulated by levying the 9 euros fare per passenger. It is emphasized that, moreover, at the request of the competent authorities, Avia Invest did not provide financial information on the calculation of the airport tax set at 9 euros per passenger and also did not provide confirming calculations of the impact of the airport tax on Avia Invest's investments. “With regard to the issuance of permits, we inform that SRL Avia Invest does not comply with legal norms and does not provide the necessary documents in accordance with the legislation to the competent authorities for issuing permits,” the Public Property Agency said. // 23.07.2020 - InfoMarket.

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