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The decision of the Arbitration Institute of the Stockholm Chamber of Commerce to prohibit the termination of the Chisinau airport concession contract is a temporary measure, taken before the case is considered in court, and it fits into the timeframe whe

The decision of the Arbitration Institute of the Stockholm Chamber of Commerce to prohibit the termination of the Chisinau airport concession contract is a temporary measure, taken before the case is considered in court, and it fits into the timeframe whe

The Public Property Agency stated this, commenting on the Avia Invest message on the interim decision of the Stockholm International Arbitration Court on the claim against Moldova on violation of international and national legislation in relations with the concessionaire of the Chisinau International Airport. The Public Property Agency noted that on August 3, they were informed about the decision of the Arbitration Institute of the Stockholm Chamber of Commerce dated August 2, which recommended that Moldova refrain from further actions on the execution of the notification regarding the concession termination sent to Avia Invest on July 8. The Agency recalled that the notice was issued on the basis of Avia Invest's failure to fulfill its contractual obligations, in particular, the failure to provide a guarantee for the proper performance of work in accordance with the provisions of the concession agreement. "The decision of the Arbitration Institute of the Stockholm Chamber of Commerce dated August 2, 2020 is a temporary measure issued by one judge before the start of the proceedings in the court and which suspended the execution of the concession termination notice sent to Avia Invest on July 8, 2020," noted the Public Property Agency. The Agency clarified that, at the same time, the corresponding measure fits into the 180-day period provided for in Art. 24 of the concession agreement for the execution of the contract termination notice and the return of all assets that were the object of the concession and all new built objects that cannot be separated from the airport. In the same context, the Public Property Agency announced that it will provide comprehensive support to ensure effective representation and protection of the rights and interests of the state in the case of Komaksavia Airport Invest LTD against Moldova. //04.08.2020 - InfoMarket.

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