{"id":445962,"date":"2018-10-26T16:20:13","date_gmt":"2018-10-26T16:20:13","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=445962"},"modified":"2018-10-26T16:20:53","modified_gmt":"2018-10-26T16:20:53","slug":"moldova-will-pay-compensation-millions-dollars-us-investor","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/moldova-will-pay-compensation-millions-dollars-us-investor\/","title":{"rendered":"Moldova will have to pay a compensation of millions of dollars to a US investor"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

This year, the government will have to pay the\u00a0sum of $537,802<\/strong>, which will be the first 30% compensation of over 1,792 million dollars (about 30.5 million lei) to the American businessman Zbigniew Piotr Grot, according to\u00a0mold-street.com<\/a>.<\/p>\n

This concerns the execution of the arbitral award adopted on June 28, by the ICSID in the case of Zbigniew Piotr Grot, Grot Cimarron LLC, Laguardia USA LLC and ICS Laguardia SRL against the Republic of Moldova.<\/p>\n

The remaining $1.25 million<\/strong>, representing 70% of the ICSID’s total, will be paid out of the state budget projected for 2019.<\/p>\n\n

Moldova has violated international treaties<\/h3>\n

The US investor’s attempts to resolve the case in the courts of the Republic of Moldova have failed, the ICSID claiming about $3 million in damages was addressed.<\/p>\n

At its meeting on June 28, the Court ruled that the Republic of Moldova violated the rights of the American investor and did not respect the provisions of the Agreement on the Promotion and Mutual Protection of Investments<\/a> signed with the United States<\/em>.<\/p>\n

Reminder:\u00a0<\/strong>The US State Department, whose representatives met with Moldovan diplomats last year, is also interested in the case.<\/p>\n

“While analyzing the latest developments, especially the position of the RM and the non-actions of the Ministry of Justice of the RM, the US side suspects Moldova’s violation of the provisions of the multilateral and regional treaties on investments to which the US is a party”, declared a report issued by the Ministry of Business Foreign.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>This year, the government will have to pay the\u00a0sum of $537,802, which will be the first 30% compensation of over 1,792 million dollars (about 30.5 million lei) to the American businessman Zbigniew Piotr Grot, according to\u00a0mold-street.com. This concerns the execution of the arbitral award adopted on June 28, by the ICSID in the case of […]<\/p>\n","protected":false},"author":23,"featured_media":445963,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,8],"tags":[35],"class_list":["post-445962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","category-world-news","tag-important"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

This year, the government will have to pay the\u00a0sum of $537,802<\/strong>, which will be the first 30% compensation of over 1,792 million dollars (about 30.5 million lei) to the American businessman Zbigniew Piotr Grot, according to\u00a0mold-street.com<\/a>.<\/p>\n

This concerns the execution of the arbitral award adopted on June 28, by the ICSID in the case of Zbigniew Piotr Grot, Grot Cimarron LLC, Laguardia USA LLC and ICS Laguardia SRL against the Republic of Moldova.<\/p>\n

The remaining $1.25 million<\/strong>, representing 70% of the ICSID’s total, will be paid out of the state budget projected for 2019.<\/p>\n\n

Moldova has violated international treaties<\/h3>\n

The US investor’s attempts to resolve the case in the courts of the Republic of Moldova have failed, the ICSID claiming about $3 million in damages was addressed.<\/p>\n

At its meeting on June 28, the Court ruled that the Republic of Moldova violated the rights of the American investor and did not respect the provisions of the Agreement on the Promotion and Mutual Protection of Investments<\/a> signed with the United States<\/em>.<\/p>\n

Reminder:\u00a0<\/strong>The US State Department, whose representatives met with Moldovan diplomats last year, is also interested in the case.<\/p>\n

“While analyzing the latest developments, especially the position of the RM and the non-actions of the Ministry of Justice of the RM, the US side suspects Moldova’s violation of the provisions of the multilateral and regional treaties on investments to which the US is a party”, declared a report issued by the Ministry of Business Foreign.<\/p><\/blockquote>\n

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