The Turkish company Kurum has sued Albania in international arbitration, seeking a reported compensation of 100 million euros for the breach of contract of the container terminal in the port of Durres.
The company ‘Durrës Container Terminal’ and other investors in the container processing concession in the port of Durrës have filed an arbitration lawsuit after the contract was terminated by an Albanian court and the terminal seizure by the bailiffs.
The case against Albania was registered on September 23 at the International Center for the Settlement of Investment Disputes, ICSID, in Washington.
The lawsuit against Albania was filed by these Albanian-registered companies: Durres Kurum Shipping shpk, Durres Container Terminal Sha, US-registered company Metal Commodities Foreign Trade Corp, and Altberg Developments LP in the UK - which are investors in the container terminal concession.
According to an article in the Global Arbitration Review - a magazine specializing in arbitration matters. Kurum and other investors are seeking 100m euros in compensation from the Albanian state.